Oman- Equities snap gaining streak as foreigners exit 

(MENAFN - Times of Oman) The MSM-30 index declined after three consecutive days of rise by 0.83 per cent to close at 5,661 points. The market traded 9.76 million shares worth of RO3.85 million. Compared to the previous day, the shares exchanged were 10.8 million shares worth RO3.8 million.

Foreigners were net sellers yesterday with 0.9 per cent (RO0.03 million) from the total turnover yesterday. Amongst the sectors, Banking & Investment sector and Services & Insurance sector posted losses of 1.58 per cent and 0.30 per cent, respectively. However, industry sector posted a gain of 1.79 per cent.

Oman Flour Mills (OFM) yesterday announced that it's forming an LLC investment company with a capital of RO150,000 to manage its existing investments and forthcoming projects. The new LLC company will be a subsidiary of OFM. The stock price increased sharply by 7.11 per cent to close at RO0.241. The top two gainers were: Al Jazeira Services (9.68 per cent) and Al Sharqia Investment (9.65 per cent) to close at RO0.068 and RO0.125, respectively.

The top two losers were: Oman Chemical Industry (-10.67 per cent) and Al Omaniya Financial Services (-7.91 per cent) closed at RO0.067 and RO2.200. The top two by volume traded were: Al Jazeira Services (1.35 million shares) and Galfar Engineering (1.3 million shares). The top two by value traded were: Galfar Engineering (RO 0.74 million) and Bank Muscat (RO0.67 million).

NAV as of January 20, 2009: Oryx Fund-RO1.171, Muscat Fund-RO1.223 and Bank Muscat MSCI Kuwait Fund: (Dec. 31, 2008) 0.6667.