Oman- MSM30 positive on institutional interest

Date

5/3/2016 2:48:46 PM

(MENAFN- Muscat Daily) Muscat-

Trading activity on the Muscat bourse received a further boost on Tuesday on institutional interest and block deals.

The benchmark ended up 0.54 per cent at 5983.99. It is up 10.69 per cent for the year.

Market turnover and volume rose 27.52 per cent and 101.86 per cent to RO13.98mn and 47.2mn shares respectively. Out of the 49 stocks traded 19 closed with gains while six slipped and 24 remained stable.

All the sub-indices closed higher lead by the Services index with daily gains of 0.93 per cent. It was followed by the Financial index (+0.80% at 7827.45) and the Industrial gauge (+0.03% at 7211.31). The MSM Shariah index closed up 0.18 per cent at 883.66.

Top gainers included Al Sharqia Investment Holding (+10 per cent) Oman Hotels & Tourism (+9.81 per cent)and Oman & Emirates Investment Holding (+9.79 per cent) while laggards included Al Anwar Ceramic Tiles (-3.7 per cent) OIFC (-3.3 per cent) and Port Services Corporation (-3.09 per cent).

Oil prices lost more ground as nagging worries about excess supplies kept them below 2016 highs after data showed Iran and Iraq increasing output.

Oil fell on Monday as figures showed Iraqi exports hit a near-record 3.36mn barrels a day in April while Iran's production reached 3.5mn barrels per day the most since December 2011.

Adding to demand concerns data showed factory activity in China slowed in April leading to fears that a recent series of upbeat indicators may have been a blip.

At about 1000 GMT on Tuesday US benchmark West Texas Intermediate (WTI) for delivery in June shed 18 cents to US$45.65 per barrel. Brent North Sea crude for July sagged 37 cents to US$44.74 a barrel compared with Monday's close.

By special arrangement with Oman Arab Bank - Investment Management Group

- With inputs from AFP

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