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MSM extends bear run to 17th session

MSM extends bear run to 17th session
Photo Credit: Arabianeye - Reuters

Mubasher: Muscat Securities Market (MSM) continued Thursday its losing run for the seventeenth successive session, after 24 stocks drifted lower.

The main index MSM30 fell by 0.48% or 27.4 points to close at 5,668.40 points, its lowest level since 17 December, 2014. Sharia Index also declined by 0.92% or 8.21 points to 887.11 points.

The industrial sector was the biggest decliner, shedding 1.22%, followed by the financial and services sectors that dropped by 0.89% and 0.27% in a row.

Out of the 40 companies traded today, two moved up, 24 moved down and 14 others remained flat.

Port Services stock was the best performer, with a rise of 0.79%, while Al Jazeera Steel led decliners with a drop of 6.47%.

Al Anwar Holding recorded the biggest traded volume of 1.22 million shares, while Omantel came on top with a traded value reaching OMR 752,570.