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MUSCAT — The MSM Index closed down 1.1 points at 295.7, with all the sectoral indices ending in the red. The financial sector dropped 0.85 points(0.21  Join our daily free Newsletter

MENAFN - Times of Oman - 04/03/2004

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MUSCAT — The MSM Index closed down 1.1 points at 295.7, with all the sectoral indices ending in the red. The financial sector dropped 0.85 points (0.21 per cent) closing at 396.12. Services sector also lost 0.26 points (0.17 per cent) to close at 148.670. The industrial sector bore the brunt of the fall, 3.21 points (1.44 per cent) down to close at 220.44. Volumes continued to remain modest at 1.19 million, about RO2.1 million in value. Top five traded shares accounted for about 47 per cent of the total volumes and 41.3 per cent of total value traded. Market internals were weak. Declines outnumbered advances at a ratio of 2:1 while 19 stocks closed unchanged. About 2.5x the volumes were recorded on stocks declining in respect to gainers. Dhofar Bev. & Foodstuff headed the gainers list in a single transaction of 500 shares that led the stock up 9.7 per cent to close at its 52-week high of RO1.69. Topaz declared a 9 per cent dividend, and the stock slipped 1.4 per cent to RO1.43. Oman Cement proposed an 18 per cent dividend, but shed 80 baisa (2.4 per cent) to RO3.30. Two other stocks to declare results, Oman Orix Leasing and Al Anwar Ceramics, were not traded. Raysut Cement was among the volume leaders with 44,900 shares changing hands, as the stock touched its 52-week high of RO3.08 before closing at RO3.06, breaking out of a 7-month trading range. Among losers, Majan Glass gave back 7.1 per cent to close at RO0.26. Construction Materials dropped 7.1 per cent to close at RO0.65 on light volumes. Rounding off the losers were National Biscuits and Majan College dropping 4.2 per cent to RO2.30 and 3.8 per cent to RO6.25, respectively. — BankMuscat

 






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