Muscat Securities Market (MSM) indices ended Wednesday on a positive note after the market’s benchmark index MSM30 added 0.23% or 16.75 pts and closed at 7200.7 pts. Al Sharia Index also gained 0.26% and closed at 1070.59 pts.
In a phone call to Mubasher, Abdel Hamid, branch managing director at Watheeqa Securities, said that the benchmark index succeeded in passing the level of 7200 pts amid high levels of liquidity. The index will continue progressing towards the level of 7350 pts following the holidays, he added.
Market performance was supported by the collective rise of sectors, as the services sector surged by 0.42% followed by the industrial and financial sectors, which added 0.23% and 0.03% respectively.
Liquidity was high on Wednesday as trade value reached OMR 11.26 million compared to OMR 4.4 million on Tuesday with turnover reaching 39 million shares compared to 10.9 million the day before.
Investors traded on the stocks of 57 companies, of which 20 were in the green, 12 were in the red and 25 remained unchanged.
Al Hassan Engineering led decliners after falling by 4.67% to OMR 0.143, followed by HSBC Oman and Al Madina Takaful, which lost 3.57% and 3.23% to OMR 0.162 and OMR 0.120, respectively.
Oman National Engineering Investment led gainers after adding 4.61% to OMR 0.318, followed by Oman Orix Leasing and Al Nawras, which gained 3.57% and 3.19% to OMR 0.145 and OMR 0.648, respectively.
United Finance topped the most active stocks in terms of trade value and volume after exceeding OMR 1.9 million and after 12.5 million shares changed hands in one deal. The share closed at OMR 0.142.
It is worth noting that the MSM had announced suspending trade as of July 27 till July 31, 2014 due to the Eid Al Fitr holidays. Trading will resume on Sunday, August 3, 2014. The market will also be closed on July 24 for the Renaissance holiday.
In a phone call to Mubasher, Abdel Hamid, branch managing director at Watheeqa Securities, said that the benchmark index succeeded in passing the level of 7200 pts amid high levels of liquidity. The index will continue progressing towards the level of 7350 pts following the holidays, he added.
Market performance was supported by the collective rise of sectors, as the services sector surged by 0.42% followed by the industrial and financial sectors, which added 0.23% and 0.03% respectively.
Liquidity was high on Wednesday as trade value reached OMR 11.26 million compared to OMR 4.4 million on Tuesday with turnover reaching 39 million shares compared to 10.9 million the day before.
Investors traded on the stocks of 57 companies, of which 20 were in the green, 12 were in the red and 25 remained unchanged.
Al Hassan Engineering led decliners after falling by 4.67% to OMR 0.143, followed by HSBC Oman and Al Madina Takaful, which lost 3.57% and 3.23% to OMR 0.162 and OMR 0.120, respectively.
Oman National Engineering Investment led gainers after adding 4.61% to OMR 0.318, followed by Oman Orix Leasing and Al Nawras, which gained 3.57% and 3.19% to OMR 0.145 and OMR 0.648, respectively.
United Finance topped the most active stocks in terms of trade value and volume after exceeding OMR 1.9 million and after 12.5 million shares changed hands in one deal. The share closed at OMR 0.142.
It is worth noting that the MSM had announced suspending trade as of July 27 till July 31, 2014 due to the Eid Al Fitr holidays. Trading will resume on Sunday, August 3, 2014. The market will also be closed on July 24 for the Renaissance holiday.
Source:
Mubasher Exclusive
