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Oman- MSM extends gains backed by banks, telecoms  Join our daily free Newsletter

MENAFN - Muscat Daily - 01/07/2014
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(MENAFN - Muscat Daily) The MSM30 registered its fifth consecutive daily gain on Tuesday, backed by continued interest on leading shares, especially banks and telecom companies.


The market was most likely impacted by drivers such as the upcoming quarterly results, the restructuring of portfolios and the movement of institutional investments.


Al Batinah Power and Al Suwadi Power accounted for 30 per cent of the total trades in terms of value, and market trades overall remained healthy.


Institutional investors (Omanis and GCC) absorbed selling pressure from individuals, especially local individuals, with net buys of RO1.45mn.


The Financial index and the Services index rose by 0.22 per cent and 0.11 per cent, respectively. The Industrial index was the only loser, posting a decline of 0.31 per cent.


Among the top gainers were Ahli Bank (5.46%), Sohar Power (2.78%) and Alizz Islamic Bank (2.04%). The losers included Al Hassan Engineering (-5.2%), #Oman Fisheries (-3.3%) and Bank Nizwa (-2.38%).



 
 


Muscat Daily




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