CSI
CSII
CSII
Ahli Bank
ABOB
ABOB
Muscat Securities Market (MSM) indices registered a rise at end of August as the benchmark index added 2.31% or 166.46 pts and closed at 7367.16 pts, compared to July’s closing of 7200.7 pts.
The market’s benchmark index performed well during August, said Sameh Gharib, head of the technical analysis department at The Roots Securities, adding that the index witnessed a narrow sideways movement between the levels of 7287-7373 pts.
Gharib said he expects the index to exit this sideways movement and pass the level of 7373 pts as well as target the 7500-pt level. This expectation remains valid as long as the index maintains its position above the 7287-pt level, he noted.
On its way up, the index will face resistance at 7373 pts and 7500 pts, respectively, Gharib told Mubasher in a phone call interview, adding that regarding support levels, the index will find its first support level at 7287 pts then 7200 pts.
Market value for MSM in August amounted to OMR 15.406 billion against OMR 15.177 billion by the end of July, with gains reaching OMR 229 million, registering a 1.5% increase. Al Sharia Index rose by 0.14% in August, adding 1.53 pts to 1072.13 pts, compared to July’s closing of 1070.60 pts.
August market performance was strong due to the financial sector, whose gains hit 140.51 pts, registering a total of 8896.66 pts compared to 8756.15 pts at the end of July. Moreover, the services sector added 2.28% or 83.97 pts to 3765.91 pts compared to July’s closing of 3681.94 pts. Finally, the industrial sector registered an increase by 1.16% or 116.96 pts to 10176.28 pts compared to 10059.32 pts by the end of last month.
Trading surged during August compared to July as a total of 393.97 million shares changed hands against 349.92 million, registering a 12.6% rise.
Turnover also rose in August to OMR 130.25 million against OMR 124.03 million in July, registering a five percent rise. Moreover, a total of 23653 transactions were executed compared to 20671 transactions last month.
Investors traded on the stocks of 88 companies of which 34 were in the green, 39 were in the red and 14 remained unchanged.
Ahli Bank topped August gainers after surging by 16.75% to OMR 0.230, compared to July’s closing of OMR 0.197. On the other hand, Computer Stationary Industry Co. topped decliners after plunging by 22.09% to OMR 0.254 compared to July’s closing of OMR 0.326.
The market’s benchmark index performed well during August, said Sameh Gharib, head of the technical analysis department at The Roots Securities, adding that the index witnessed a narrow sideways movement between the levels of 7287-7373 pts.
Gharib said he expects the index to exit this sideways movement and pass the level of 7373 pts as well as target the 7500-pt level. This expectation remains valid as long as the index maintains its position above the 7287-pt level, he noted.
On its way up, the index will face resistance at 7373 pts and 7500 pts, respectively, Gharib told Mubasher in a phone call interview, adding that regarding support levels, the index will find its first support level at 7287 pts then 7200 pts.
Market value for MSM in August amounted to OMR 15.406 billion against OMR 15.177 billion by the end of July, with gains reaching OMR 229 million, registering a 1.5% increase. Al Sharia Index rose by 0.14% in August, adding 1.53 pts to 1072.13 pts, compared to July’s closing of 1070.60 pts.
August market performance was strong due to the financial sector, whose gains hit 140.51 pts, registering a total of 8896.66 pts compared to 8756.15 pts at the end of July. Moreover, the services sector added 2.28% or 83.97 pts to 3765.91 pts compared to July’s closing of 3681.94 pts. Finally, the industrial sector registered an increase by 1.16% or 116.96 pts to 10176.28 pts compared to 10059.32 pts by the end of last month.
Trading surged during August compared to July as a total of 393.97 million shares changed hands against 349.92 million, registering a 12.6% rise.
Turnover also rose in August to OMR 130.25 million against OMR 124.03 million in July, registering a five percent rise. Moreover, a total of 23653 transactions were executed compared to 20671 transactions last month.
Investors traded on the stocks of 88 companies of which 34 were in the green, 39 were in the red and 14 remained unchanged.
Ahli Bank topped August gainers after surging by 16.75% to OMR 0.230, compared to July’s closing of OMR 0.197. On the other hand, Computer Stationary Industry Co. topped decliners after plunging by 22.09% to OMR 0.254 compared to July’s closing of OMR 0.326.
Source:
Mubasher Exclusive
