MSM30 CONTINUES ITS DOWNWARD TREND

MUSCAT: The MSM30 Index continued on its downward trend on Monday closing at 5,762.110, down by 0.34 per cent, mainly due to pressure seen on large caps like Omantel, Ooredoo, and Bank Muscat.

At the market around 1.97mn securities exchanged hands during the day, generating a turnover of RO7.76mn. All the sub-indices closed in red on Monday with Services index closing down by 0.39 per cent, Financial index dropping by 0.37 per cent and the Industrial index closing down by 0.24 per cent.

Market breadth was negative with 22 companies closing down against only four gainers on the bourse.

As many as 14 companies remained unchanged.

The MSM Shariah index closed down by 0.50 per cent. Port Services Corporation (+6.56 per cent), Ahlibank (+1.03 per cent) and Dhofar University (+0.69 per cent) were top gainers, while United Power (-9.93 per cent), Takaful Oman Insurance (-6.48 per cent) and Oman Investment and Finance Co (-3.39 per cent) were amongst the top losers.

SOURCE: MUSCAT DAILY