Muscat market gains following global equities hike
Taking cue from the strength in global equities, the Muscat Securities Market general index traded in positive territory, gaining 0.79 per cent to close at 6,549.61 on Sunday.
Trading activity remained robust as a total of 2,372 trades were executed, generating a turnover of RO10.29mn, while 45.32mn shares were exchanged over the counters. Market breadth stood in favour of advancers as of the 55 securities traded for the day 26 advanced while 17 declined and 12 stocks remained unchanged.
Al Batinah Development and Investment continued its rally adding 6.36 per cent at 117bz. The stock was the top gainer for the day.
The other lead advancers were Bank Sohar (+5.41 per cent at 195bz), Financial Services (+5.22 per cent at 121bz), Dhofar Cattle Feed (+3.73 per cent at 250bz) and Oman Investment and Finance (+2.61 per cent at 393bz) while the top losers were Oman Textile Industries (-3.01 per cent at 290bz), Oman Orix Leasing Co (-2.55 per cent at 153bz), Construction Material Industries (-2.33 per cent at 84bz), Transgulf Holding (-2.26 per cent at 173bz) and Al Sharqia Investment Holding (-2.20 per cent at 222bz).
All the three sectoral indices closed in the green. The Financial index added 0.80 per cent, supported by Ominvest (+1.91 per cent at 428bz), National Bank of Oman (+0.72 per cent at 279bz), bank muscat (+0.79 per cent at 639bz) and Ahlibank (+0.50 per cent at 200bz). The Industrial index rose 0.54 per cent while the Services index ended the day with gains of 0.23 per cent.