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MSM continues rally for third day on local buying

 Staff Reporter

MUSCAT

Local retail buying saw the Muscat Securities Market (MSM) index going up for the third consecutive day, registering a 1.7 per cent rise.

The index, which closed at 4889.28 points on Thursday, touched 4,972.30 points on Tuesday, posting a total gain of 83 points.

On Tuesday, the index made a gain of 0.58 per cent over the last trading session.

However, the value of traded securities went down by 27.2 per cent to reach 2.78 million rials. The number of traded securities went up by 6.67 per cent to 12.67 million. There was trade in 35 securities with 13 making gains and 10 losing.

Market capitalisation went up by 0.22 per cent to reach 17.5 billion rials.

All indices headed north with the financial index going up by 0.49 per cent, industrial by 0.52 per cent, services by 0.28 per cent and Sharia index by 0.27 per cent.

Among the top gainers, Voltamp Energy, which announced the signing of a few contracts with Qatari firm, and Al Anwar Holding hit the upper circuit. Others to make gains included Al Sharqia Investment Holding, Oman National Engineering and Investment and Omantel. The telecom player is to announce its dividend this month end.

The top losers were Al Maha Petroleum Products, Al Madina Investment, AL Anwar Ceramic Tiles, Alizz Islamic Bank and Al Madina Takaful.

The top securities traded on value basis were Omantel, Bank Muscat, Al Anwar Holding, Al Madina Takaful and Ooredoo, together accounting for 81.44 per cent of the turnover.

On volume basis, the toppers were Al Anwar Holding, Al Madina Takaful, Bank Muscat, Al Madina Investment and Omantel, together having a share of 74.89 per cent.

Local individuals and institutions had a share of 82.2 per cent in the purchase value and 74.9 per cent in the sell value. Foreign investors had a share of 3.7 per cent in the buy value and 20.1 per cent in the sell value. Net foreign investment on the market decreased by 7.22 per cent to 201,000 rials.

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