MSM30 DECLINES 0.41% AS OIL CONTINUE TO DECLINE

MUSCAT: The MSM30 index fell to 6,204.12 closing lower 0.41 per cent on Wednesday as Brent crude continued to decline distorting the investment outlook in 2014.

Turnovers and volumes at MSM remained low as investors awaited fourth quarter 2014 results and related disclosures.

Total turnovers on the bourse rose relative to their closing on January 6, 2015 rising to RO3.14mn, however remaining significantly below the averages posted in 2014. Volumes of traded securities posted 12.23mn shares.

As many as 39 companies traded with 15 rising while 13 fell and 11 remained stable. Gulf Investment Services, Galfar Engineering and Contracting, Oman Fisheries, Oman United Insurance posted the largest gains on the bourse, while Al Anwar Ceramic Tiles, Bank Dhofar, Port Services Corporation National Aluminium Products and HSBC Bank Oman posted the largest declines.

SOURCE: MUSCAT DAILY