Oman shares decline on weak sentiments

Weakness in financial sector weighed on the MSM30 Index, which closed at 5,041.06 points, down 0.43 per cent. The MSM Sharia Index closed at 709.51 points, down 0.12 per cent. National Life was the most active in terms of volume as well as turnover. Renaissance Services was Monday’s top gainer, up 4.14 per cent, while top loser was HSBC Bank, down 4.76 per cent.

A total number of 363 trades were executed, generating a turnover of OMR1.68 million with 6.11 million shares changing hands. Out of 31 traded securities, 2 advanced, 8 declined, and 21 remained unchanged. At the end of the trading session, Omani investors were net buyers for OMR337,000 while Foreign investors were net sellers for OMR189,000 followed by GCC & Arab investors for OMR148,000 worth of shares.

Financial Index retreated 0.66 per cent to finish at 7,350.01 points. Vision Insurance gained 0.69 per cent respectively. HSBC Bank, Al Ahlia Insurance, Gulf Investment Services, Bank Sohar and Al Anwar Holding declined 4.76 per cent, 1.89 per cent, 1.30 per cent, 1.29 per cent and 0.66 per cent respectively.

Industry Index declined 0.07 per cent to end at 6,762.92 points. There were no movers in the sector on Monday.

Services Index closed at 2,570.02 points, up 0.37 per cent. Renaissance Services, up 4.14 per cent, was the sole gainer. Omantel, Al Batinah Power and Al Suwadi Power decreased 0.83 per cent, 0.71 per cent and 0.71 per cent respectively.

Source:Timesofoman