MSM30 falls 1.13% on weak earn­ings sea­son

Muscat Daily - - BUSINESS -

The bench­mark in­dex of the Mus­cat Se­cu­ri­ties Mar­ket (MSM) sharply fell 1.13 per cent on Sun­day as many listed firms re­ported de­clines in their earn­ings for the first half of 2017. The MSM30 in­dex recorded a de­cline of 57.6 points and closed at 5,063.76 points.

Mar­ket turnover de­creased 12.51 per cent to RO2.17mn while vol­umes fell 27.22 per cent to 10.62mn shares.

All the sec­toral in­dices closed in red ter­ri­to­ries. While Fi­nan­cial and In­dus­trial in­dices fell by 0.55 per cent each; the Ser­vices in­dex fell by 1.06 per cent. The MSM Shariah in­dex closed down by 0.5 per cent at 755.87 points.

Mar­ket breadth re­mained neg­a­tive as five com­pa­nies closed up, while 12 com­pa­nies closed down. The rest 13 traded stocks closed flat for the day.

Top gain­ers were Bank Nizwa (2.15 per cent), Oman Orix Leas­ing (1.18 per cent), Na­tional Bank of Oman (0.96 per cent) and Al Mad­ina Taka­ful (0.89 per cent).

Top losers were Na­tional Gas Com­pany (-8 per cent), Gulf In­ter­na­tional Chem­i­cals (-6.49 per cent), Oman Fish­eries (-4.35 per cent) and Oman In­vest­ment and Fi­nance Co (-3.51 per cent).

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