Local buying lifts MSM30 to 5,776

MUSCAT: The value of local purchases at Muscat Securities Market (MSM) in January amounted to RO 68.1 million, claiming 88 per cent of the total turnover witnessed by the market, amounting to RO 77.4 million. The purchases of local investment fund and companies accounted for 56.8 per cent of total trading. The domestic sales amounted to approximately RO 60.3 million. The local investment fund and companies amounted to 77.8 per cent of the total trading value. MSM saw in January uneven performance and the main index recorded a slight loss, a decline by 6 points and ended the January trading at 5,776 points, but the financial sector index managed to climb by about 276 points and earn the industry sector index with 183 points. The services sector saw a drop of 35 points, and Sharia market index declined 11 points.

917769The market value of companies listed on MSM went up at the end of January to RO 17 billion and 784 million, scoring gains estimated at RO 491.6 million. This rise came as a result of increased market value in the parallel market and Sukuk and bond market and the closed companies. The shares of 29 companies rose last month compared to a decline in prices of 31 companies, whereas 14 companies maintained their previous levels. Oman Fisheries Company shares recorded the best rise and closed at 101 Bz, up by 65 per cent, al Madinah Takaful shares rose to 92 Bz, up 29 per cent, and the National Finance increased to 155 Bz, up by 18 per cent. Galfar Engineering and Contracting company was at the forefront of the lowest shares closing at 84 Bz, down by 10.6 per cent. The shares of al Nahdha Services fell to 220 Bz, down 8.3 per cent, Al Izz Bank shares fell to 66 Bz, declined by 8.3 per cent as well.

Telecommunications companies topped the most active companies in terms of value, claiming 22.7 per cent of the total value of trading. Ooredoo company was on top and the value of its traded shares was RO 8.9 million, representing 11.6 per cent of total trading, Omantel came in second with RO 8.5 million, claiming 11 per cent of the total value of traded shares. — ONA