MSM30 RISES ON SUPPORT FROM LOCAL INSTITUTIONS

MUSCAT: The benchmark index of Muscat Securities Market rose 0.18 per cent to close at 5.557.73 points, recording first gain after a 19 days long losing streak. The market was supported by buying interest from local institutional investors, but GCC institutions were net seller on the bourse.

The gain on MSM30 was supported by all the subindices on Tuesday. Financial index rose 0.75 per cent, while Industry and Services indices increased by 0.25 per cent and 0.12 per cent, respectively. MSM Shariah index also closed up by 0.42 per cent.

Market volume was slightly up by 0.44 per cent to 20.88mn shares, while turnover dropped 10.1 per cent to RO4.22mn.

Among top gainers of the day were Construction Materials Industry (+10 per cent at 33bz), Oman Fisheries (+8 per cent at 54bz), Port Services Corporation (+7.09 per cent at 136bz) and Gulf Investment Services (+6.82 per cent at 94bz). Top losers were BankDhofar (-2.24 per cent at 218bz), Al Jazeera Steel Products (-1.54 per cent at 128bz), Al Suwadi Power (-1.47 per cent at 201bz) and Al Batinah Power (-1.47 per cent at 201bz).

SOURCE: MUSCAT DAILY