Muscat, The Index of Muscat Securities Market (MSM) gained 10 points and closed at 3,525 points last week, maintaining a rising trend for the second week in a row. The stock market benefited from vested interest in purchasing shown by local and GCC investment funds. Accordingly, purchases of local investment establishments garnered 49.4% of the value of trading as against 47% of sales. GCC investment establishments’ purchases constituted 12% of total trading, against 9% of trading sales.
The Financial Sector reflected investors’ keenness on purchase, rising by 27 points and figuring among the highest indices of the stock market, while the Industry Sector registered the highest rate of shrinking after losing 22 points. The Services Sector’s activity also receded by 10 points, followed by Sharia market index, which lost 3 points.
During last week, MSM experienced active engagement, with the value of trading rising by 14.6% to RO5.5 million as against RO4.8 million in the week before. However, the number of executed deals decreased by 67 to 1,767 deals.
Market value of firms listed on MSM by the end of last week increased by RO34.4 million to RO18.4 billion (18 billion, 434 million and 700 thousand).
Oman Finance Services led the group of most traded companies, in terms of trading value, and the value of its shares stood at RO831,000 that constituted 15% of total value of trading, followed by Al Anwar Ceramics (RO 679,000) and Bank Muscat (RO592,000).
Last week, the prices of 20 companies went up, while the prices of 22 firms went down and 28 firms’ prices remained unchanged.
Al Madina Investment share topped the list of most winning shares, rising by 9% to 28 baisas, followed by United Energy’s share which increased by 4.8% to close at RO1.2 , and Alizz Islamic Bank’s share, which rose by 7.4% and closed at 66 baisas in Thursday’s trading.
Al Hassan Engineering’s share suffered the highest loss, retreating by 11.7% and closing at 15 baisas. The share of Galfar Engineering lost 10% of its flare and closed at 45 baisas, followed in the downward trend by United Finance’s share, which lost 10% and closed at 63 baisas.
Source: Oman News Agency