MSM30 gains on Omani institutional support

Date

8/3/2016 12:55:46 AM

(MENAFN- Muscat Daily) Muscat-

The benchmark index of the Muscat Securities Market rose 0.29 per cent to close at 5,860.70 on support from Omani institutional investors.

A total of 47 stocks were traded on the bourse on Monday. Market breadth was positive with 21 advancers to six decliners, while as many as 20 stocks remained unchanged.

The gain in the main index was supported by all the sectoral indexes, led by Financial index with an increase of 0.77 per cent. The Industrial and Services gauges added 0.11 per cent and 0.16 per cent, respectively. The MSM Shariah index inched up 0.05 per cent.

Market volume slipped 10.33 per cent to 20.73mn shares from the previous session, while turnover dropped 24.3 per cent to RO4.24mn.

Omani institutional investors were net buyers while GCC and other foreign institutions were net sellers on the bourse. Omani retail investors were net sellers.

Top gainers on the day were Oman United Insurance (+3.92 per cent at 292bz), Gulf Investment Services (+2.59 per cent at 119bz), Al Sharqia Investment Holding (+2.16 per cent at 142bz), Al Batinah Development and Investment Holding (+2.15 per cent at 95bz) and HSBC Bank Oman (+2.06 per cent at 99bz).

Top laggards were Taageer Finance (-3.18 per cent at 122bz), Port Services Corporation (-2.08 per cent at 235bz), Oman Cables Industry (-0.55 per cent at RO1.81) and Al Anwar Ceramic Tiles (-0.45 per cent at 223bz).

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