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Middle East tensions weigh on MSM

Muscat - 

Regional indices closed mostly in the red weighed down by rising geopolitical tensions, while the Muscat Securities Market general index extended its losses and edged down 0.41 per cent to close at 5,578.75.

The benchmark index is down 2.04 per cent on year.

Trading activity remained low as investors remained cautious over  developments in the region as well as over the EU decision on Greece. A total of 910 trades were executed, generating a turnover of RO2.46mn, while 10.21mn shares were exchanged over the counters.

Market breadth stood in favour of decliners as of the 47 securities traded for the day 23 declined while five advanced and 19 stocks closed unchanged.

The top gainers of the day were Port Services Corporation (+2.78 per cent at 517bz), Al Anwar Ceramic Tiles (+0.96 per cent at 421bz), Dhofar Cattle Feed (+0.58 per cent at 174bz), Raysut Cement (+0.36 per cent at RO1.40) and Sohar Power (+0.13 per cent at RO1.57) while the top losers were A'Saffa Foods (-4.66 per cent at 491bz), BankDhofar (-1.74 per cent at 339bz), Taageer Finance (-1.56 per cent at 126bz), Al Hassan Engineering (-1.24 per cent at 159bz) and Transgulf Holding (-1.24 per cent at 80bz).

The Financial index led the declines among the sectoral indices and lost 0.50 per cent. The Industrial index slipped 0.32 per cent while the Services index closed flat.

By arrangement with National Bank of Oman

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