Upward trend continues at MSM
Muscat - Continuing the upward trend which started on Sunday, the benchmark index of the Muscat Securities Market (MSM) on Tuesday rose 0.72 per cent to close at 4,145.05 points.
Trading activity was lower on Tuesday compared to the previous session. Market turnover decreased 1.5 per cent to RO4.24mn, while volumes dropped 9.6 per cent to 21.18mn shares.
The gain in MSM30 index was supported by all the sub-indices. Financial index rose 0.67 per cent, Industrial index jumped 1.16 per cent and Services index increased 0.22 per cent. The MSM Shariah index closed up by 0.68 per cent at 563.52 points.
Market breadth remained positive as 17 companies closed up, while 11 companies closed down. As many as 20 traded stocks closed flat for the day.
Top gainers were Oman Cement Company (5.4 per cent), National Finance Company (4.4 per cent) and Raysut Cement Company (4.0 per cent), respectively. Top laggards included Muscat Insurance Company (-8.5 per cent), Oman & Emirates Investment Holding (-3.1 per cent) and Gulf International
Chemicals Company (-2.7 per cent), respectively.