Mubasher: The Muscat Securities Market (MSM) approved transferring six stocks from the parallel market to the main MSM, and to transfer another eight from the main market to the parallel one.

The reason behind these movements pertains to listing conditions, the Omani bourse said in a statement on Tuesday.

The decision will be implemented starting Wednesday, 10 May.

Stocks transferred from the parallel market to the MSM are: Al Sharqiya Investment Holding, HSBC Oman, Oman Flour Mills, Shell Oman Marketing, Al Maha Petroleum Products Marketing, and Taageer Finance, the bourse said.

On the other hand, Oman Textile Holding, Renaissance Services, Port Services Corp, Gulf Investment Services Holding, Sohar Power, United Finance, Phoenix Power, and Al Batinah Power were transferred to the parallel market, the MSM added.

Meanwhile, the MSM has transferred Buraimi Hotel, Dhofar Insurance, and Dhofar International Development and Investment Holding Co will be transferred from the parallel market to the under monitoring market.

On Tuesday, the MSM’s main index closed in the red zone, losing 0.32% or 17.68 points and reaching 5,423.26 points.