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MENAFN - Times of Oman - 02/08/2007

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(MENAFN - Times of Oman) MUSCAT — Equities moved sideways on the Muscat Securities Market yesterday. The key MSM 30 index closed 19.41 points higher to close at 6,446.07. The surge in the market was on the back of good interest seen in frontline stocks.

Trading activity was seen in the small-cap equities like Al Jazeira Services, OIFC, and Oman Chlorine. All the three stocks traded lower yesterday.

BankMuscat saw steady interest at RO1.400 with over a million shares trading in the stock. Oman Cables, after a lull, traded a decent block in yesterday's session.

Raysut Cement saw good activity but was unable to cross the resistance level of RO1.450; the stock seems to be stuttering at this resistance. The same was true for Bank Sohar, which was unable to cross the RO1.450 level. On the other hand, it looked like OIB crossing the key level of RO2.900.

This is the level from which the stock has witnessed some selling pressure in the past. Overall markets seemed to have seen decent interest in most of the stocks.




 






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