Among the Banks, Alliance Housing Bank, OIB and Bank Muscat registered gains of 7.7%, 4.5% and 1.4% respectively, while the investment holding companies -ONIC Holding and DIDIC appreciated by 1.2% and 1.1% respectively. Gulf Investment Services witnessed a sharp appreciation of 11.5% to 580 bz, from 520 bz in the previous week. The Company's shareholders at the EGM on Nov 12th, approved the financial restructuring plan which envisages the reduction of capital from the existing RO 14.7 million to RO 7 million followed by a cash payment of 307 bz per share to the shareholders. Oman Fiber Optics was the major gainer in the Industry Sector, witnessing a price appreciation of 32.1% to RO 1.110, from 840 bz in the previous week. Dhofar Cattlefeed and Oman Chlorine registered gains of 2.6% and 2.2% respectively. In the Services Sector, Oman Aviation continued its uptrend, appreciating by 16.7% to 630 bz, from 540 bz in the previous week. Al Jazeera Services, Shell Oman and BP also moved up by 8.1%, 2% and 0.3% respectively.
Total trading volume during the week was lower at RO 6.1 million, as against RO 9.9 million in the previous week. The volume leaders of the week were Gulf Investment Services (673,380 shares), Alliance Housing Bank (273,846), NBO (273,747), Bank Muscat (255,193) and ONIC Holding (200,937). Bank Muscat's bonds were actively traded, with investor preference being directed towards the convertible bonds, which closed the week on a gain of 1.9%, at RO 1.070. Oryx and Muscat Fund units were traded in quantities of 40,847 and 8,500, registering gains of 7.8% and 12.5% respectively. 70,999 units of Majan Fund were traded, with the price remaining unchanged over the previous week, at 550 bz.
There were 35 gainers and 11 losers during the week. The major gainers of the week were Oman Fiber Optics (+32.1%, RO 1.110), Raysut Cement (+22.4%, RO 1.040), Oman Aviation (+16.7%, 630 bz), Muscat Index Fund (+12.5%, 450 bz) and Oman Euro Food (+12.5%, 180 bz). The major losers of the week were Musandam Inv. & Finance (-35.3%, 110 bz), Transgulf (-15.7%, 590 bz), National Securities (-8.2%, 670 bz), Gulf Hotels (-4.4%, RO 1.290) and Oman Flour Mills (-3%, RO 1.280).
