Renewed enthusiasm on Muscat bourse

Muscat: Renewed enthusiasm from local institutions after the end of dividend season led to the MSM 30 Index surging past the 5,000 mark to close at 5,562.88 points, up by 1.35 per cent. The MSM Sharia Index ended at 847.03 points, up 0.58 per cent.
Galfar Engineering was the most active in terms of volume while Bank Sohar led in terms of turnover. The top gainer was Bank Sohar, up 6.90 per cent, while Global Financial Investment was the top loser, down 9.63 per cent.
As many as1,376 trades were executed on Monday, generating turnover of OMR5.1 million with 30.9 million shares changing hands. Out of 45 traded securities, 23 advanced, eight declined and 14 remained unchanged. Foreign investors switched to net buyers for OMR478,000 followed by GCC and Arab investors for OMR64,000 while Omani investors were net sellers for OMR542,000 worth of shares.
Financial index showed sharp gains of 1.64 per cent to finish at 7,046.20 points. Bank Sohar, BankDhofar, Al Sharqia Investments, Gulf Investment Services and Al Anwar Holding gained by 6.90 per cent, 4.55 per cent, 3.96 per cent, 3.92 per cent and 2.46 per cent, respectively. Global Financial Investment, Al Madina Investments and Oman United Insurance slid by 9.63 per cent, 1.59 per cent and 0.82 per cent, respectively.
Industrial Index advanced 0.56 per cent to close at 6,741.68 points. Al Hassan Engineering, Oman Cement, Al Anwar Ceramics, Oman Flour Mills and Galfar Engineering increased by 3.45 per cent, 2.17 per cent, 1.79 per cent, 1.59 per cent and 1.12 per cent, respectively. Gulf International Chemicals and National Aluminium declined by 1.81 per cent and 0.91 per cent, respectively.
Services Index ended at 3,112.55 points, up by 0.10 per cent. Phoenix Power, Oman Telecommunications Company (Omantel), Port Services, Sembcorp Salalah and OIFC gained by 2.08 per cent, 1.63 per cent, 1.60 per cent, 1.11 per cent and 1.02 per cent, respectively. Renaissance Services, National Gas and Ooredoo Oman declined by 2.72 per cent, 1.39 per cent and 1.10 per cent respectively.