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MENAFN - Times of Oman - 26/07/2007

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(MENAFN - Times of Oman) MUSCAT — The Muscat Securities Market (MSM) saw steady activity yesterday moving up 11.86 points to close at 6,436.99. Share prices opened higher but could not sustain the momentum. Some selling pressure emerged towards the middle of the session. BankMuscat saw good interest and the counter witnessed heavy volumes at over 1.2 million shares around the RO1.39 level. NBO, Raysut Cement and Oman Cement continued to witness some selling pressure.

Omantel and Oman Cables, on the other hand, saw sporadic interest. Renaissance Services after a long while saw some renewed interest with over 700,000 shares trading around the 0.650 baisas level. Small-cap stocks, which have had a fine run up like Al Jazeira Services, Al Anwar Ceramic Tiles and Oman Chlorine were witness to some selling pressure. Oil marketing sector again saw some profit-taking. Markets seem to be in a phase of consolidation, with volumes still staying healthy. This could be taken as a positive cue. The NAV of Oryx and Muscat Fund for July 24 remained at RO1.650 and RO1.480, respectively.





 






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