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MENAFN - Muscat Daily - 22/10/2012

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(MENAFN - Muscat Daily) Poor third quarter results from Nawras Telecom and National Aluminium Company weighed on investors' sentiment and the Muscat Securities Market general index edged lower by 1.09 per cent before closing at 5,646.76.Trading activity was dominated by the sellers as a total number of 1,095 trades were executed for the day generating turnover of RO3.75mn while 14.51mn shares were exchanged over the counters.Market breadth stood in favour of decliners as of the 44 securities traded for the day 29 declined while three advanced and 12 stocks closed unchanged at the session closing.Stocks closing in the positive territory were United Power (1.96 per cent at RO1.04), Oman Packaging Company (0.47 per cent at 216bz) and Al Maha Marketing Company (0.01 per cent at RO18) while stock closing as worst losers for the day were National Aluminium Products (-8.53 per cent at 193bz), Nawras Telecom (-8.32 per cent at 496bz), Dhofar Cattle Feeds (-6.47 per cent at 188bz), Oman & Emirates Investment (-3.64 per cent at 106bz) and  Transgulf Holdings (-3.53 per cent at 82bz).All the three sector indices closed in the red. The Services sector index led the decline with losses of 1.41 per cent as the sector heavyweight Nawras Telecom reported 24 per cent decline in net profit for the nine months ended September.The Financial sector index lost 0.89 per cent as Bank Sohar and BankDhofar fell by 2.01 per cent and 1.89 per cent, respectively.The Industrial sector index also witnessed selling pressure and closed down by 0.64 per cent at the session's closing.By arrangement with National Bank of Oman

 






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