Buying support aids Oman stock market recovery

Muscat: Supported by heavy trading activity, the MSM30 Index stayed on its bullish course to close at 5,728.72 points, up 0.84 per cent. The MSM Sharia Index gained by 0.64 per cent to close at 860.79 points.
Bank Nizwa was the most active in terms of volume, while Galfar Engineering led in terms of turnover. Oman Textiles was the top gainer, up by 8.13 per cent, while Al Anwar Ceramics was the top loser, with loss of 1.05 per cent.
As many as 2,087 trades were executed on Tuesday, generating turnover of OMR8.2 million with 62.7 million shares changing hands. Out of 53 traded securities, 29 advanced, five declined and 19 remained unchanged. Foreign investors were net buyers for OMR47,000 followed by Omani investors for OMR6 while GCC and Arab investors switched to net sellers for OMR53,000 worth of shares.
Financial Index surged ahead by 1.30 per cent to finish at 7,426.31 points. Al Batinah Development, Al Sharqia Investments, Al Izz Bank, Al Madina Investments and Ahli Bank gained by 3.45 per cent, 3.33 per cent, 3.28 per cent, 2.94 per cent and 2.86 per cent, respectively. Global Financial Investment and Gulf Investment Services declined by 0.76 per cent and 0.75 per cent, respectively.
Industrial Index closed positively at 6,963.75 points, up by 1.19 per cent. Oman Textiles, Galfar Engineering, Oman Fisheries, National Aluminium and Al Hassan Engineering increased by 8.12 per cent, 7.53 per cent, 5.17 per cent, 5.11 per cent and 4.71 per cent,respectively. Al Anwar Ceramics, which was down by 1.05 per cent, was the only loser.
Services Index gained by 0.31 per cent to close at 3,156.53 points. Port Services, Renaissance Services and Al Jazeera Services gained by 4.59 per cent, 3.59 per cent and 1.12 per cent, respectively. Oman Telecommunications Company (Omantel) declined by 0.62 per cent to close at OMR1.590.