MSM30 rebounds on improved activity

Muscat - 

The benchmark MSM30 index rebounded on Wednesday, closing 0.47 per cent higher at 5,787.69 supported by the Financial and Services indexes.

The Industrial gauge, however, dropped 0.28 per cent to close at 7,305.94.

The Financial sub-index closed up 0.33 per cent at 6,893.94, and the Services index added 0.14 per cent to 3,225.490.

The MSM Shariah index closed down 0.15 per cent at 902.01.

Market volume soared over 149 per cent to 26.56mn securities traded, which generated a turnover of RO7.38mn, up 136.26 per cent over the previous day. Market breadth was positive as 14 stocks gained against seven decliners, while 18 securities remained unchanged.

Bank Muscat shares jumped five per cent and the stock led in terms of volumes - accounting for 20 per cent of total trades - and value – with a 39 per cent share.

Bank Muscat Compulsorily Convertible B B 3.5 (+5.56 per cent) and Oman Packaging (+4.17 per cent) also led the way for gainers, whereas Oman Cement (-3.08 per cent) and Al Jazeira Services (-1.49 per cent) were among the top laggards for the day.
By special arrangement with Oman Arab Bank - Investment Management Group

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