MSM shares hurt by weak trading activity 

(MENAFN - Muscat Daily) Regional markets closed mixed taking their cue from Asian bourses as market participants waited for clearer signal from the US Federal Reserve decision on further stimulus for economic easing.

The Muscat Securities Market general index headed south losing 0.46 per cent before closing at 5,489.93. Trading activity remained subdued with low investor participation. A total number of 934 trades were executed generating a turnover of RO2.84mn, while 10.97mn shares exchanged hands.

Gulf Investment Services, unchanged at 87bz, topped the volumes list while ACWA Power Barka registered the highest turnover for the day. Market breadth closed in favour of decliners as of the 41 securities traded, 20 declined while eight advanced, while 13 remained unchanged.

The top gainers of the day were Al Sharqia Investment Holding (1.94 per cent at 105bz), Oman United Insurance Company (1.84 per cent at 166bz), Voltamp Energy (1.22 per cent at 332bz), Oman & Emirates Investment (0.88 per cent at 115bz) and Oman Investment and Finance Company (0.61 per cent at 164bz).

The top laggards were Al Anwar Holding (-3.57 per cent at 135bz), Bank Nizwa (-1.85 per cent at 106bz), Construction Material Industries (-1.61 per cent at 61bz), Al Anwar Ceramic Tiles (-1.60 per cent at 369bz) and OMINVEST (-1.32 per cent at 375bz).

All the sectoral indices witnessed selling pressure and closed in the red. The Financial index dropped 0.57 per cent on losses in Ahlibank (-1.22 per cent at 162bz), HSBC Bank Oman (-0.88 per cent at 225bz) and Bank Sohar (-0.73 per cent at 136bz). Oman Cement (-1.29 per cent at 612bz) and Oman Cable (-1.01 per cent at 879bz) pulled the Industrial index down 0.45 per cent while the Services index inched down 0.04 per cent.

By arrangement with National Bank of Oman