Muscat bourse declines

Muscat: During a quiet session, profit taking brought down the MSM30 Index by 0.36 per cent to close at 5,939.10 points. The MSM Sharia Index ended at 879.90 points, up by 0.19 per cent.
Galfar Engineering was the most active in terms of volume as well as turnover. Construction Materials, up by 2.86 per cent, was the top gainer while Al Madina Investment, which declined by 6.06 per cent, was the top loser.
As many as1,364 trades were executed on Wednesday, generating a turnover of OMR4.8 million with 24.4 million shares changing hands. Out of 41 traded securities, seven advanced, 21 declined and 13 remained unchanged. Omani investors were net buyers for OMR87,000 followed by GCC and Arab investors for OMR23,000 while foreign investors remained net sellers for OMR110,000.
Financial Index ended negatively to close at 7,715.06 points, down by 0.95 per cent. Al Madina Takaful and Ominvest increased by 1.33 per cent and 0.36 per cent, respectively. Al Madina Investment, HSBC Bank Oman, Oman United Insurance, Al Sharqia Investments and Al Izz Bank declined by 6.06 per cent, 4.69 per cent, 2.53 per cent, 2.17 per cent and 1.69 per cent, respectively.
Industrial Index stayed relatively flat at 7,173.35 points, down by 0.02 per cent. Construction Materials, Oman Cables, Raysut Cement and Gulf International Chemicals gained by 2.86 per cent, 1.43 per cent, 1.30 per cent and 0.39 per cent, respectively. Al Hassan Engineering, Galfar Engineering, Oman Fisheries and Al Jazeera Steel declined by 3 per cent, 1.71 per cent, 1.45 per cent and 1.04 per cent, respectively.
Services Index retreated by 0.34 per cent to close at 3,234.56 points. Port Services Corporation, up by 0.37 per cent was the only sector gainer. Al Batinah Power, Al Jazeera Services, Renaissance Services and Oman Telecommunications Company declined by 1.86 per cent, 1.65 per cent, 1.63 per cent and 0.31 per cent, respectively.