Stocks decline, paced by drop in Brent crude

Date

7/21/2016 1:04:31 AM

(MENAFN- Muscat Daily) Muscat-

Oman shares retreated, paced by a drop in Brent crude. The MSM30 index ended 0.08 per cent lower at 5,839.28.

Market volume and turnover improved to 14.57mn and RO3.53mn, respectively. Of the 45 stocks traded, eight closed higher, while 13 slipped and 24 remained unchanged. A total of 810 trades were registered during the day.

Among the sub-indexes, the Industrial gauge closed down 0.58 per cent while the Financial index lost 0.32 per cent. The Services index was flat, inching up 0.01 per cent. The MSM Shariah index dropped 0.17 per cent to 887.38.

Top gainers included Construction Materials Industry (+3.33 per cent), Al Sharqia Investment Holding (+1.41 per cent) and National Gas (+1.31 per cent) while laggards were led by National Aluminium Products (-6.50 per cent), Al Anwar Ceramic Tiles (-4.90 per cent) and Al Anwar Holding (-3.13 per cent).

Saudi Arabian shares fell for the first time in three days and Dubai-traded stocks slid 0.3 per cent as Brent crude declined during their trading day before erasing losses.

Brent for September settlement fell eight cents to US$46.88 a barrel on the London-based ICE Futures Europe exchange. The contract on Monday lost 1.4 per cent to US$46.96 a barrel.

By special arrangement with Oman Arab Bank - Investment Management Group

- With inputs from Bloomberg

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