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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

MSM witnesses record trading volume in Nov

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MUSCAT: Muscat Securities Market (MSM) recorded the best volume of trading in six months with RO 79.8 million in November; the best since May 2016 when it stood at RO 104.2 million to decline to RO 66.3 million in June, RO 61 million in July and RO 62.7 million in August. The market registered the lowest volume of trading in September with RO 54.4 million, which went upward to RO 77.5 million in October. The MSM performance during November has been mixed due to oil price drop. Nevertheless, the Opec agreement on November 30th to reduce production augmented the trading volume and led many stock upwards. MSM 30 index ended November with slight gains; Six points after three months of decline to close at 5,487 points.


The index is still high by 80 points compared to its level in the last year, which closed at 5,406 points, thanks to the gains made in February, March, April and July during which the index gained 830 points.  The index lost most of these gains due to the continuous oil price slump and lowering the global economy expected rates of growth. It is also attributed to the expected effects of oil price drop on the state’s general budget. — ONA


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