Muscat Securities Market (MSM) indices rose at the end of Wednesday’s session. The benchmark index rose by 0.43% or 32.40 points to close at 7547.65 points. The Sharia Index increased by 0.42% to 1083.26 points.

Market value gained OMR 30 million to OMR 15.654 billion against OMR 15.624 billion yesterday.

Ahmed Abdel-Hameed, Watheeqa for financial services technical analyst, said that the benchmark index of MSM increased for the second consecutive session by 0.43% to close at 7548 points boosted by mass rally of sectors.

Abdel-Hameed told Mubasher in a statement that he expects the MSM30 index will target 7700 points during the next session adding that he expects the index to target the support level of 7450 points, and the strongest support level at 7200 points during the next sessions.

Liquidity kept flat at previous levels. Total of 27.7 million shares were traded through 1706 transactions at a turnover of OMR 9.004 million, whereas yesterday, total of 21.3 million shares were traded through 1463 transactions at a turnover of OMR 9.006 million.

Shares of 59 companies were traded of which 22 rose, 11 declined while the remaining 26 ones kept flat.

The benchmark index rally was supported by the increase of financial sector which rose by 1.08% that led the rally, followed by the increase of industrial and services sectors by 0.32% and 0.37% respectively.

The top three gainers were National Aluminum Products which rose by 4.49% to OMR 0.279, Bank Nizwa which increased by 3.41% to OMR 0.091 and Al Anwar Holding which soared by 3.13% to OMR 0.330.

On the other hand, the top three losers were Oman Textile Holding whose shares declined by 3.10% to OMR 0.281, Majan Glass which plunged by 1.46% to OMR 0.271 and Oman and Emirates Investment Holding which lost 1.37% to OMR 0.261.

Translated by: Mohamed Massoud