MSM records best trading in April

MUSCAT: The value of trading at Muscat Securities Market (MSM) recorded the best in April 2017 with RO 99.5 million, compared to RO 96.4 million in March, RO 55 million in February and RO 52.9 million in January 2018. In terms of the volume of trading, MSM witnessed an increase in the number of stocks traded to 628 million, compared to 480.8 million in March 2018. The number of transactions also increased to more than 18,000, compared to 16,000 transactions in March. The high volume and value of trading was supported by a remarkable activity of some stocks and the execution of certain transactions coupled with increase of trading in securities and sukuk market to more than RO 1 million, compared to RO 85,000 in March 2018.

Ahlibank topped the list in terms of the value of trading with RO 24.1 million or 24.2 per cent of the total value of trading followed by Omantel with RO 11.5 million or 11.5 per cent and Bank Muscat with RO 9.3 million or 9.3 per cent. MSM has witnessed a positive development in April as the shares of 27 companies went up in April 2018, compared to 16 companies in March 2018. The gainer stocks 45 in April 2018 was higher than the loser stocks in the same month. It was the same figure in March 2018. The shares of listed companies in the follow up market topped the list of gainers. The stock of National Mineral Water increased by 53.8 per cent to close at 100 baisas, compared to 65 baisas at the previous month. While the stock of Construction Materials Industry Company increased by 23 per cent to close at 32 baisas, the stock of Al Hassan Engineering Co increased by 14.2 per cent to close at 40 baisas.

Dhofar Insurance stock recorded the biggest decline by 48 per cent and closed at 104 baisas, followed by Oman Cables Industry Company stock by 21 per cent which closed at 892 baisas and United Energy Company by 20 per cent, which closed at 280 baisas. The stocks decline pressurised MSM 30, which declined to 44 points to close at 4,729 points. The financial sector index was the only one among industrial indices to close high with 7,266 points; an increase by 145 points or 2 per cent.  The other three sectoral indices decreased by 3 per cent. In terms of points, the industry index lost 226 points, compared to 80 points for the services index and 22 points for the Sharia market index. MSM capitalisation lost RO 146.4 million in April 2018 to close at RO 17,759.9 million. — ONA