MSM30 FALLS 0.44% AS SELLING PRESSURE CONTINUES

MUSCAT: The benchmark MSM30 index dropped by 0.44 per cent on Sunday to close at 5,643.29 points, mainly due to selling pressure from GCC and foreign institutional investors.

In terms of activity, a total of 11.7mn securities exchanged hands on the bourse, generating a total turnover of RO2.48mn during the day. With a 0.64 per cent drop the Services index declined the most amongst the subindices, followed by the Financial index which dropped by 0.56 per cent.

Industry Index also decreased by 0.36 per cent. The MSM Shariah index declined by 0.59 per cent to close at 881.910. Market breadth remained negative with 24 companies closing down against only four gainers. As many as 25 companies closed unchanged after trading.

Omantel, Sharqiya Desalination and Al Anwar Holding were amongst the top companies with high value of trades, but they all declined on daily basis. Top gainers were Oman Packaging (+5.45 per cent), Oman Textile Holding (+2.86 per cent), Dhofar University (+ 1.37 per cent) and Al Anwar Ceramic Tiles (+0.62 per cent). Among top losers were Al Jazeera Services (-7.5 per cent), Gulf International Chemicals (-3.85 per cent) and Oman Fisheries (-3.85 per cent).

SOURCE: MUSCAT DAILY

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