MUSCAT — The Muscat Securities Market (MSM) opened the week's trading on a flat note, where the revised MSM-30 index shed about 8 points, or 0.15 per cent, to close at 5442.45. All sectors closed in the red with furthest decline noted in the financial sector, as it shed 14.8 points, or 0.19 per cent, to close at 7804.13.
Industrial sector slipped 4.99 points, or 0.12 per cent, to end at 4293.63. Services sector stayed buoyant, closing just 0.47 points, or 0.02 per cent, lower at 2018.11. Oman Hotels and Tourism was in the limelight as the scrip rallied a limit up to touch a new high of RO2.180, while only 2,500 shares got traded on its equity. Total volumes were narrow compared to the previous levels with 896,000 shares changing hands at a total value of RO3.46 million, while top active stocks accounted for just over half of the total market turnover.
The Muscat Securities Market listed 500,000 bonus shares (25 per cent of the capital) of Oman Refreshment Company in the Parallel Market yesterday
The board of directors of Transgulf Investment Holding Company, which met on June 29, 2005, has proposed to distribute a cash dividend of 15 per cent and a stock dividend (bonus shares) of 23 per cent. The proposal is subject to the approval of shareholders at the AGM to be held soon.
MSM restructured the components of its General Price Index (MSM-30) with effect from yesterday. Oman Investment & Finance (OIFC), Oman & Emirates Investment Holding Company and Al Sharqiya Investment Holding will replace BankDhofar, Gulf Investment Services and Global Financial Investments in the Banking and investment sector. In the services & insurance sector, AES Barka, Al Maha Petroleum and United Power will replace Oman United Insurance, Topaz Energy and Marine and Oman Oil Marketing. Al Jazeera Tube Mills, Al Anwar Holdings and Oman Chromite 50 per cent joined the industry sector, replacing Al Anwar Ceramic Tiles, Al Hassan Engineering and Salalah Mills.