Muscat share prices edge up as volume jumps 

(MENAFN - Times of Oman) The MSM-30 index rose 1.1 per cent to close at 4,860 yesterday. Volume in terms of total shares jumped by 82.8 per cent to 26.275 million shares against the previous day's 14.377 million shares. Traded value also increased by 66.3 per cent, from RO4.263 million to RO7.088 million. Foreigners were net sellers yesterday, they sold 0.6 per cent (RO0.04 million) in the net turnover.

The market was positive with 28 advances and 13 declines out of 47 traded securities. Among the sectors, Banking & Investment sector was the only gainer yesterday and closed 2.35 per cent higher.

However, Industry and Services & Insurance sectors lost 0.99 per cent and 0.06 per cent, respectively.

Among the companies, Oman Cables Industry yesterday announced its initial unaudited results for the period ended March 31, 2009. The company results show a decline in sales by 48 per cent to register a loss of RO0.946 million in the net profit.

The stock price declined sharply 9.85 per cent to close at RO0.659. The top two gainers were: Oman & Emirates Inv (OM) (6.73 per cent) and Al Jazeira Services (6.35 per cent) to close at RO0.111 and RO0.067, respectively.

The top two losers were: Oman Cables Industry (-9.85 per cent) and United Finance (-5.92 per cent) closed at RO0.659 and RO0.143. The top two by volume traded were: Al Jazeira Services (5.2 million shares) and Bank Sohar (4.2 million shares). The top two by value traded were: Galfar Engineering (RO1.8 million) and Bank Muscat (RO1.4 million).