(MENAFN- Qatar News Agency) Muscat Securities Market (MSM) index rose 215 points in February 2016, taking advantage of the return of oil prices to go up, the improvement in global stock markets and the announcement of many listed companies in the market that their financial results showed an improvement in performance and were in line with analysts' expectations.
The main index closed at 5395 points, up by 4.1%, trimming its losses this year to 11 points as the index lost 226 points in January. All sectoral indices posted up, particularly the service sector and the financial sector index, which increased more than 5%, while the Sharia-compliant market index rose 2.3% and the industry index rose 1.3%.
Local buying spree boosted stock prices, pushing them up. The share prices of 39 companies rose, the share prices of 18 companies dropped and 16 companies maintained their previous levels. Statistics issued by MSM indicated that the value of local procurement amounted to RO82.6 million, constituting 89.5% of the total market trading volume amounting to RO92.3 million, while domestic sales amounted to about RO68 million, and 73.6% of total trading.
Statistics showed good interest in investing in the market in February by the local Omani individuals and institutional investors whose purchases made up about 37% and 52% respectively of the total trades compared to sales ratio reached respectively 32.3% and 41.2%.
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