MSM index closes flat as volumes decline
The general index of the Muscat Securities Market (MSM) closed almost flat on Sunday at 4,126.05 points amid weak trading activity.
Among sectoral indices, Financial index increased 0.02 per cent, while Industrial and Services indices decreased by 0.31 per cent and 0.01 per cent, respectively. The MSM Shariah index closed down by 0.05 per cent at 563.19 points.
Trading activity dropped on Sunday compared to the previous session. Total market turnover fell more than 38 per cent to RO2.17mn from RO3.53mn recorded on Thursday. Trading volumes fell more than 43 per cent at 9.48mn shares compared to 16.8mn shares in the previous session.
Market breadth on Sunday remained positive as nine companies closed up, while six companies closed down. As many as 23 traded stocks closed flat for the day.
Top gainers included HSBC Bank
Oman (1.7 per cent), Muscat Finance (1.6 per cent) and Gulf Investments Services (1.4 per cent). Top losers of the day were Al Maha Petroleum Products Marketing (-2.8 per cent), Al Anwar Ceramic Tiles (-1.8 per cent) and Raysut Cement (-1.5 per cent).