MSM indices ended the week on a down note, losing 0.13%, or 8.59 pts to 6772.63 pts. Ahmad Abdel Hameed, CEO at Watheeqa Securities, stated that the main index fell for the fifth straight session, losing 8.6 pts to 6772 pts.
The index will likely test 6750 pts early in the coming week amid new purchasing powers. Montaser Madbouly, head of technical analysis at Orouba Securities stated that MSM indices witnessed correction and neared support at 6600 pts. Despite the index weak performance over the previous sessions, the index still ranges between 6600-6700 pts. It will likely target 6900 pts – 7050 pts in the short term.
A total of 27.6 million shares changed hands, at a total value of OMR 15.9 million. Oman Cables was the worst performer, falling 3.71% to OMR 2.465, while NMWI was the best performer, soaring 10.81% to OMR 0.041.
Bank Muscat topped most actives by trading volume and value as more than 7.37 million shares changed hands, at total value of OMR 4.4 million.
The index will likely test 6750 pts early in the coming week amid new purchasing powers. Montaser Madbouly, head of technical analysis at Orouba Securities stated that MSM indices witnessed correction and neared support at 6600 pts. Despite the index weak performance over the previous sessions, the index still ranges between 6600-6700 pts. It will likely target 6900 pts – 7050 pts in the short term.
A total of 27.6 million shares changed hands, at a total value of OMR 15.9 million. Oman Cables was the worst performer, falling 3.71% to OMR 2.465, while NMWI was the best performer, soaring 10.81% to OMR 0.041.
Bank Muscat topped most actives by trading volume and value as more than 7.37 million shares changed hands, at total value of OMR 4.4 million.
Source:
Mubasher
