Oman- MSM30 index rises for 8th straight day

4/11/2016 2:50:21 PM

(MENAFN- Muscat Daily) Muscat-

On the back of improved activity since the beginning of last week the benchmark index of the Muscat Securities Market (MSM) continued its upward trend for the eighth straight day on Monday.

The MSM30 rose 0.52 per cent to close at 5681.22. Market breadth was positive with 26 advancing stocks to seven decliners while 24 stocks remained unchanged.

The headline index was supported by all the sectoral indices led by Financial gauge which closed up one per cent. The Industrial and Services indexes rose 0.93 per cent and 0.14 per cent respectively. The MSM Shariah index inched up 0.04 per cent to close at 854.98. Market volume was 11.36 per cent higher at 41.46mn compared to the previous session while turnover dropped 5.27 per cent to RO6.9mn. While Omani and GCC institutions were net buyers on Monday other foreign institutions were net sellers.

Top gainers included National Aluminium Products (+7.31 per cent at 235bz) Galfar Engineering and Contracting (+6.9 per cent at 93bz) Al Jazeera Steel Products (+6.45 per cent at 165bz) and Gulf Investment Services (+6.35 per cent at 134bz). Oman Refreshment (-2.22 per cent at RO2.2) BankDhofar (-1.96 per cent at 250bz) Port Services Corporation (-1.8 per cent at 218bz) and Al Anwar Holding (-1.33 per cent at 223bz) were the chief laggards.

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