Financial, services sectors weigh on MSM

Muscat - 

The general index of the Muscat Securities Market (MSM) moved to consolidation mode on Monday as it declined 0.04 per cent to close at 5,543.98.

Among the sectoral indices, Financial and Services declined 0.37 per cent and 0.17 per cent, respectively, while the Industrial index closed in the green with a gain of 0.23 per cent.

Market volume increased 29 per cent to 13.3mn shares compared to 10.3mn shares traded in the previous session, while total turnover rose 27 per cent to RO3.83mn from RO3mn in the previous session.

A total of 45 stocks were traded on Sunday. Market breadth was negative with 18 declining stocks to just seven advancers.

While GCC investors were net sellers, Omani and other foreign investors were net buyers. Market capitalisation dropped 0.03 per cent to RO11.3bn from RO11.31bn in the previous session.

The top gainers of the day were Oman Cables Industry (+3.94 per cent at RO1.02), Bank Sohar (+1.32 per cent at 154bz), bank muscat (+0.91 per cent 557bz), Taageer Finance (+0.78 per cent at 129bz) and HSBC Bank Oman (+0.48 per cent at 209bz).

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