Al Sharqiya Investment
SIHC
SIHC
Jazeera Steel
ATMI
ATMI
Al Madina Takaful
AMAT
AMAT
Oman Fisheries
OFCI
OFCI
Dhofar Food & Investment
DFIN
DFIN
Oman & Emirates Investment Holding
OEIO
OEIO
Muscat Securities Market (MSM) indices rose at the closing of Tuesday’s trades as the benchmark index surged by 0.60% or 44.1 pts, passing the 7400-pt level to close at 7400.04 pts. Al Sharia Index inched up by 0.09% to 1071.32 pts.
Market value gained OMR 56 million to OMR 15.445 billion against OMR 15.389 billion on Monday.
Sameh Gharib, head of the technical analysis department at The Roots Securities, said that the market’s main index succeeded in passing the resistance level of 7373 pts, which it had been trying to overcome for the past month. Today the index gained 0.60% or 44.1 pts, passing 7400 pts, he added.
By examining the benchmark index’s trades, we can see that it has succeeded in exiting the sideways movement that has controlled it throughout the past month to resume its upward trend and to target new levels at 7450 pts and 7500 pts respectively, Gharib told Mubasher in a statement, adding that he expects the MSM30 index to continue rising and to target the level of 7450 pts during this week’s trades.
On its way up, the index will face resistance at 7450 pts then 7500 pts, whereas it will encounter support at 7345 pts and 7322 pts, respectively, he concluded.
Liquidity rose today compared to Monday as turnover was seen at OMR 6.35 million against OMR 5.42 million as 16 million shares were traded through the execution of 1234 transactions against 12 million shares through 963 transactions on Monday. Investors traded on the stocks of 50 companies, of which 22 rose, 6 retreated and 22 remained unchanged. Market sectors rose collectively today led by the financial sector which surged by 1.08% followed by the industrial and services sectors by 0.07% and 0.57%, respectively.
Oman and Emirates Investment Holding topped gainers after adding 3.27% to OMR 0.221, followed by Al Jazeera Services and Al Sharqiyah Investment Holding by 3.26% and 2.80% to OMR 0.444 and OMR 0.220, respectively.
Meanwhile, Dhofar Cattle Feet led decliners after falling 2.63% to OMR 0.185, followed by Oman Fisheries and Al Madina Takaful, which lost 1.09% and 0.84% to OMR 0.118, respectively.
Market value gained OMR 56 million to OMR 15.445 billion against OMR 15.389 billion on Monday.
Sameh Gharib, head of the technical analysis department at The Roots Securities, said that the market’s main index succeeded in passing the resistance level of 7373 pts, which it had been trying to overcome for the past month. Today the index gained 0.60% or 44.1 pts, passing 7400 pts, he added.
By examining the benchmark index’s trades, we can see that it has succeeded in exiting the sideways movement that has controlled it throughout the past month to resume its upward trend and to target new levels at 7450 pts and 7500 pts respectively, Gharib told Mubasher in a statement, adding that he expects the MSM30 index to continue rising and to target the level of 7450 pts during this week’s trades.
On its way up, the index will face resistance at 7450 pts then 7500 pts, whereas it will encounter support at 7345 pts and 7322 pts, respectively, he concluded.
Liquidity rose today compared to Monday as turnover was seen at OMR 6.35 million against OMR 5.42 million as 16 million shares were traded through the execution of 1234 transactions against 12 million shares through 963 transactions on Monday. Investors traded on the stocks of 50 companies, of which 22 rose, 6 retreated and 22 remained unchanged. Market sectors rose collectively today led by the financial sector which surged by 1.08% followed by the industrial and services sectors by 0.07% and 0.57%, respectively.
Oman and Emirates Investment Holding topped gainers after adding 3.27% to OMR 0.221, followed by Al Jazeera Services and Al Sharqiyah Investment Holding by 3.26% and 2.80% to OMR 0.444 and OMR 0.220, respectively.
Meanwhile, Dhofar Cattle Feet led decliners after falling 2.63% to OMR 0.185, followed by Oman Fisheries and Al Madina Takaful, which lost 1.09% and 0.84% to OMR 0.118, respectively.
Source:
Mubasher Exclusive
