Muscat bourse recovers on buying support at lower levels

Muscat: Share prices on the Muscat Securities Market recovered on better support at lower levels. The MSM30 ended higher at 5,308.10 points, up by 0.23 per cent. The MSM Sharia Index gained 0.36 per cent to close at 827.76 points.
Bank Nizwa was the most active in terms of volume, while Bank Muscat led in terms of turnover. Bank Nizwa was the top gainer, up by 4.55 per cent, while Jazeira Services was the top loser, down 3.33 per cent on Wednesday.
As many as 706 trades were executed on Wednesday, generating turnover of OMR5.1 million with 27.9 million shares changing hands. Out of 35 traded securities, 11 advanced, 11 declined and 13 remained unchanged. Omani investors stayed net buyers for OMR1.42 million, while foreign investors were net sellers for OMR809,000 followed by GCC and Arab investors for OMR619,000 worth of shares.
Financial Index closed at 6,513.20 points, up by 0.58 per cent. Bank Nizwa, Global Financial Investment, Bank Sohar and Al Izz Islamic Bank increased by 4.55 per cent, 4 per cent, 2.69 per cent and 1.82 per cent, respectively. Ahli Bank, Bank Muscat and Oman United Insurance declined by 1.71 per cent, 0.58 per cent and 0.49 per cent, respectively.
Industrial Index increased by 0.03 per cent to close the session at 6,549.05 points. Galfar Engineering and Oman Cement increased by 3.28 per cent and 0.44 per cent, respectively. Gulf International Chemicals and Al Maha Ceramic declined by 3.11 per cent and 0.50 per cent, respectively.
Services Index decreased 0.20 per cent to close at 3,029.46 points. OIFC, Sharqiyah Desalination and Port Services increased by 1.54 per cent, 1.39 per cent and 0.54 per cent, respectively. Al Jazeira Services, Renaissance Services, Al Suwadi Power and Al Batinah Power declined by 3.33 per cent, 0.60 per cent, 0.50 per cent and 0.50 per cent, respectively.