Muscat Securities Market (MSM) indices declined at the end of today’s session. The benchmark index (MSM30) decreased for the second consecutive session losing 0.44% or 32.84 points and closed at 7512.18 points, while the Sharia index plunged by 0.09% to 1083.69 points.

The market lost around OMR 45 million to OMR 15,598 billion compared with OMR 15,643 billion by the end of last week’s trading.

Ahmed Abdel-Hameed, Watheeqa for financial services technical analyst, said that the benchmark index declined for the second consecutive session losing 32.84 points or 0.44% and closed near 7500 points.

Abdel-Hameed told Mubasher in a statement that he expected limited profit taking after the benchmark index rose to retest resistances for achieving gains and targeting new prices, adding that the market will be safe as long as the benchmark index traded below 7200 points. Liquidity rose slightly compared with the other session. Total of 19.1 million shares were traded through 1,074 transactions at a turnover of OMR 5.68 million, whereas in the last session, total of 22.4 million shares were traded through 1150 transactions at a turnover of OMR 5.6 million.

Out of 49 companies were traded of which 22 declined, 8 rose and 19 remained unchanged. The benchmark index was pressured by the mass decline of all sectors topped by services which plunged by 0.33%, while the financial and industrial sectors shed 0.16% for both of them.

The top three losers were ONIC. Holding which decreased by 2.22% to OMR 0.440, Gulf Investment Services which plunged by 1.96% to OMR 0.250 and Oman United Insurance which shed 1.76% to OMR 0.446.

On the other hand, the top three gainers were Construction Materials Industry which rose by 3.64% to OMR 0.057, Dhofar Cattle Feed which added 2.22% to OMR 0.184 and Bank Nizwa which increased by 2.15% to OMR 0.095.

Translated by: Mohamed Massoud