Oman- MSM turnover falls 16% to RO471mn in first half

(MENAFN- Muscat Daily) Muscat- Total trading value at the Muscat Securities Market (MSM) reached RO471.3mn in the first half of 2017, recording a decline of 15.8 per cent compared with a turnover of RO560.4mn in the same period of last year.

The MSM this year has been affected by a range of domestic and international factors, notably the continued decline in oil prices that affected many regional and global economies. The weak oil prices impacted the sentiments of investors who preferred selling to provide liquidity for their other investments.

Total number of securities traded (market volume) in the first half of 2017 amounted to 2.1bn compared to 2.7bn securities in the same period last year, according to an Oman News Agency (ONA) report.

The listed firms' total market capitalisation at the MSM as at the end of June 2017 rose to RO17.61bn, recording a gain of RO322.4mn from RO17.28bn at the end of 2016.

The Muscat Securities Market's main index recorded a decline of 664 points during the first half of this year and closed at 5,118 points at the end of June 2017.

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