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MENAFN - Muscat Daily - 16/04/2014
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(MENAFN - Muscat Daily) The MSM30 ended Wednesday's trading session mildly higher, closing at 6,827.10, up 0.05 per cent.   

Nearly 4mn Bank Muscat shares were traded, as the bank reported results, posting a 20 per cent sequential decline in Q1 net profit. On a year-on-year basis, however, net profit was up 59 per cent largely reflecting expenses of RO14.89mn pertaining to a travel card fraud in Q1'13, which was subsequently reversed in Q4'13. Bank Sohar and OIFC were also traded heavily to close higher by 2.15 per cent and 1.37 per cent, respectively.

The Services index led the subindices closing 0.21 per cent higher at 8,145.24, followed by the Industrial index which closed up 0.15 per cent. The Financial index declined marginally by 0.10 per cent. Total turnover of shares traded increased 5.52 per cent.

Bank Sohar, Construction Materials Ind and Gulf Mushroom rose the most, gaining 2.15 per cent, 1.61 per cent and 1.54 per cent, respectively, while Bank Nizwa, Oman United Insurance and Al Batinah Dev Inv Holding fell 2.17 per cent, 1.84 per cent and 1.56 per cent, respectively.


 


Muscat Daily




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