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Index sheds 41.95 points on selling pressure - Oman  Join our daily free Newsletter

MENAFN - Times of Oman - 25/07/2007

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(MENAFN - Times of Oman) MUSCAT — The Muscat Securities Market (MSM) saw some selling pressure yesterday. As corporate results have started trickling in over the past two to three days, markets seem to be taking time to digest these numbers. The key MSM-30 index closed 41.95 points lower at 6,425.13. BankMuscat was down 1.69 per cent at RO1.396, though last trades were at RO1.385. The stock has seen a sustained run up and participants looked to book profits post the results.

The same seemed to have happened in National Bank of Oman, which traded healthy volumes of 37,600 shares at RO6.000. Raysut Cement, BankDhofar, Renaissance Services, Oman Cement and Omantel contributed to the fall in the market yesterday. Bank Sohar saw very strong volumes in yesterday's trading with over a million shares trading at and average price of RO1.400. The bank came out with strong balancesheet performance. Small cap stocks like Al Jazeira Services, Oman Chlorine, Al Maha, Napco saw some selling. Interest was seen in Didic and Al Anwar Ceramic Tiles.





 






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