MSM up 0.25% amid weak trading

The benchmark index of the Muscat Securities Market (MSM) on Sunday rose 0.25 per cent to closed at 3,602.46 points.

Trading activity remained weak during the session. Market turnover dropped nearly 80 per cent to RO795,290 from RO3.9mn recorded on Thursday, while trading volume fell 75 per cent at 5.84mn shares against 23.5mn in the previous session. Market breadth remained slightly negative on Sunday as ten stocks advanced and 12 declined. As many as 16 traded stocks closed flat for the day.

While Financial and Industrial indices decreased by 0.17 per cent and 0.06 per cent respectively, Services index recorded a gain of 0.63 per cent. MSM Sharia index increased 0.55 per cent and closed at 518.74 points.

Top gainers were Al Jazeira Services (5.59 per cent), SMN Power Holding (5.13 per cent) and BankDhofar (3.88 per cent). Top losers were United Finance (-8.77 per cent), Gulf Investment Services Holding (-8.51 per cent) and Muscat Finance (-6.98 per cent).