MSM indices ended today’s session on a down note, retreating 0.07%, or 4.75 pts, to 6839.16 pts.
Maged Essam, technical analyst, at Mubasher Financial Services, stated that the index has been moving sideways since April start, expecting the index to maintain its downtrend in the medium term, heading for 6700 – 6600 pts.
Ahmad Abdel Hameed, Managing Director, at Watheeqa Securities, stated that liquidity levels remained down, expecting the index to move sideways between support at 6750 and resistance at 6950.
Nawras was the worst performer, declining 1.70% to OMR 0.580, while Construction Materials was the top mover to the upside, gaining 3.28% to OMR 0.063.
Maged Essam, technical analyst, at Mubasher Financial Services, stated that the index has been moving sideways since April start, expecting the index to maintain its downtrend in the medium term, heading for 6700 – 6600 pts.
Ahmad Abdel Hameed, Managing Director, at Watheeqa Securities, stated that liquidity levels remained down, expecting the index to move sideways between support at 6750 and resistance at 6950.
Nawras was the worst performer, declining 1.70% to OMR 0.580, while Construction Materials was the top mover to the upside, gaining 3.28% to OMR 0.063.
Source:
Mubasher
