LOCAL INSTITUTIONS HELP MSM CLOSE HIGHER

MUSCAT: The MSM30 index registered consecutive days of gains, moving up by 0.28 per cent to 6,694.02, mainly supported by telecom companies, Renaissance Services and some holding and investment companies.

The Al Anwar Holdings stock continued to be very active. Bank Nizwa and the United Finance Co were also in focus after the in principle acceptance by the latter of Bank Nizwa’s proposal of merger.

The Financial and Services indices posted gains of 0.36 per cent and 0.33 per cent, respectively, whereas the Industrial index closed down by 0.2 per cent. The Shariah Index gained 0.42 per cent to close at 1,002.05.

Local institutional investors registered a net purchase of RO1.58mn of shares absorbing pressure from the other categories.

Top gainers included Bank Nizwa, ONIC Holding and Ooredoo, while losers included Oman and Emirates Inv Holding, Galfar Engineering and Global Financial Investment.

SOURCE: MUSCAT DAILY