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MENAFN - Times of Oman - 26/06/2007

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(MENAFN - Times of Oman) MUSCAT — Share prices declined yesterday with the MSM 30 index closing lower by 13.95 points to 6,271.46. The index was mainly dragged down by Omantel, which witnessed selling pressure yesterday. It closed lower by 1.09 per cent at RO1.179.

Raysut Cement also dragged down the market lower with it closing about a per cent at RO1.428. Investors seemed to book profits in Raysut Cement after the run up witnessed in the stock.

Bank Sohar was the stock to watch out with it moving up by another 5.14 per cent higher at RO1.085, continuing the fine run witnessed in the stock post listing. Interest was witnessed in United Finance, OIFC before the ex-dividend date i.e. June 30. BankMuscat, Alliance Housing Bank, Oman Cables and Oman Cement were stable yesterday. OIB was witness to some profit-taking after the run up witnessed in the stock.

Oman Chlorine was in fine form in anticipation of the second quarter results, which are expected to be good because of firm commodity prices.

Overall the market remained flat, but selling pressure was absorbed by the market.





 






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