Muscat Securities Market (MSM) indices ended Thursday in the green as the market’s benchmark index MSM30 rose for the second successive session, adding 0.21% or 15.39 pts to 7361.15 pts, while Al Sharia Index edged up slightly by 0.10% to 1070.72 pts.

Montasser Madbouli, head of the technical analysis department at GB Trader, said that MSM is closing on its recent high, supported by the massive Arab region market gains during yesterday’s session.

In a statement to Mubasher, Madbouli noted that gains are supported by quarterly results, which have mostly been positive.

MSM30 is expected to face difficulty in passing the support level of 7350-7400 pts on the short term, Madbouli revealed, adding that it is recommended to begin profit-taking on several stages as stocks rise, then to wait for the signal to begin buying once more.

Liquidity increased compared to the previous session as turnover reached OMR 5.86 million against OMR 4.66 million, with trade volume reaching 12.3 million shares against 10.2 million on Wednesday, through the execution of 959 transactions, compared to 820 transactions yesterday.

Investors traded on the stocks of 51 companies, of which 14 gained, 18 retreated and 19 remained unchanged.

Market performance was supported by a collective-sector rise led by the industrial sector which gained 0.16%, followed by the financial and services sectors which edged up slightly by 0.02% and 0.03%, respectively.

Takaful Oman Insurance topped gainers after adding 2% to OMR 0.102, followed by Dhofar International Development and Investment Holding (DIDI) and ONIC Holding, which gained 1.75% and 1.44% to OMR 0.580 and OMR 0.422, respectively.

Meanwhile, the Financial Corporation plunged by 9.40% to OMR 0.135, followed by National Gas and Construction Materials Industry, which lost 2.65% and 1.92% to OMR 0.736 and OMR 0.051, respectively.