MSM30 DECLINES FOR EIGHTH CONSECUTIVE DAY

MUSCAT: The general index of Muscat Securities Market (MSM) posted its eighth consecutive decline on Sunday on the back of cautious investors and global sentiment.

The notable improvement in both turnover and volumes of the traded securities [which went up by 66.88 per cent and 128.11 per cent, respectively] was mainly on a Bank Nizwa block deal.

All the sub-indices closed in red on Sunday. Financial Index closed down by 0.01 per cent, Industrial Index dropped by 0.38 per cent and Services Index recorded a decline of 0.25 per cent. The MSM Shariah Index closed down by 0.09 per cent at 904.62 points.

Market breadth was negative as 16 companies declined against only three closing up while 20 stocks remained unchanged.

Among gainers were Bank Nizwa (+2.6 per cent), Alizz Islamic Bank (+1.37 per cent) and Al Maha Ceramics (+0.9 per cent. Among top losers were National Aluminium Products (-4.72 per cent), Al Jazeera Steel Products (-4.71 per cent) and Dhofar Cattle Feed (-4.02 per cent).

SOURCE: MUSCAT DAILY