MUSCAT — Market lost ground on moderate volumes. The MSM general index fell slightly lower by 0.22 per cent to close a few points above the 5000 psychological level.
The services sector index witnessed the highest decline of 0.48 per cent. The banking/investment sector index followed the same negative trend and fell by 0.26 per cent. On the other hand, the industry sector index managed to continue its positive performance, up by 0.45 per cent.
From the service sector index, Al Jazeira Services recorded a loss of 3.03 per cent to close at RO0.192. The two power stocks, AES Barka (-0.67 per cent) and United Power (-0.14 per cent) closed in the red. In the banking/investment sector index, the fall was dragged by Al Sharqia Investment (-4.62 per cent) along with Oman Investment & Finance (-1.18 per cent). In the industry sector index there were low activity as only three stocks moved. Oman Chlorine and Oman Cement fell by 3.47 per cent and 0.40 per cent respectively. While Al Jazeera Tube Mills increased by 1.86 per cent to close at RO 0.383.
The market volumes amounted to RO 4.9 million. Market breadth was negative, with 22 decliners, 10 advancers and 11 remaining unchanged. — The Fincorp