Muscat Securities Market (MSM) indices rose during the first six months of 2014, as the market’s benchmark index MSM30 achieved 2.54% growth or 173.71 pts, ending the first half of 2014 at 7008.27 pts compared to 6834.56 pts at the end of 2013.
Market value rose during H1-14 by nearly OMR 762 million, registering a total of OMR 14.917 billion compared to OMR 14.155 billion at the end of 2013.
MSM indices rose at the closing of June’s trades, with MSM30 registering a 2.2% rise or 150.84 pts. MSM ended June at 7008.27 pts, whereas it had ended May at 6857.43 pts.
Commenting on MSM30’s H1-14 performance, Sameh Gharib, head of the technical analysis department at Jozoor Securities, stated that Muscat’s benchmark index succeeded in reaching the level of 7200 pts at the beginning of 2014, however it experienced correctional movement and dropped to the level of 6714 pts. The index ended H1-14 at the level of 7000 pts, he concluded.
MSM30 fluctuated greatly during the first six months of 2014, stated Ahmed Thabet, head of the technical analysis department at Mirage Securities, adding that the market had declined due to profit-taking at levels some thought were good opportunities to make a profit on the medium term.
Profit-taking continued till the end of May, nearing the levels of 6720 pts, Thabet told Mubasher in a phone call, adding that the market succeeded in compensating some of these losses in June.
The MSM30 index is expected to perform positively during the second half of 2014 and exceed the levels of 7200 pts, he concluded.
Market value rose during H1-14 by nearly OMR 762 million, registering a total of OMR 14.917 billion compared to OMR 14.155 billion at the end of 2013.
MSM indices rose at the closing of June’s trades, with MSM30 registering a 2.2% rise or 150.84 pts. MSM ended June at 7008.27 pts, whereas it had ended May at 6857.43 pts.
Commenting on MSM30’s H1-14 performance, Sameh Gharib, head of the technical analysis department at Jozoor Securities, stated that Muscat’s benchmark index succeeded in reaching the level of 7200 pts at the beginning of 2014, however it experienced correctional movement and dropped to the level of 6714 pts. The index ended H1-14 at the level of 7000 pts, he concluded.
MSM30 fluctuated greatly during the first six months of 2014, stated Ahmed Thabet, head of the technical analysis department at Mirage Securities, adding that the market had declined due to profit-taking at levels some thought were good opportunities to make a profit on the medium term.
Profit-taking continued till the end of May, nearing the levels of 6720 pts, Thabet told Mubasher in a phone call, adding that the market succeeded in compensating some of these losses in June.
The MSM30 index is expected to perform positively during the second half of 2014 and exceed the levels of 7200 pts, he concluded.
Source:
Mubasher
