Muscat shares advance as Financials shine
Most regional equity markets ended the day modestly higher amid expectations of a possible MSCI upgrade for UAE and Qatar to emerging market status. The Muscat Securities Market general index continued its north-bound movement with gains of 0.36 per cent before closing at 6,657.22.
Trading activity remained at close to year-to-date levels as a total of 2,258 trades were executed, generating a turnover of RO11.88mn while 36.26mn shares were exchanged over the counters.
Bank Sohar - unchanged at 204bz - topped the list with highest volume while ONIC Holding (+3.84 per cent at 406bz) topped the list with highest value. ONIC Holding on Monday announced that it was buying a 7.5 per cent stake in Takaful Insurance Co.
Market breadth stood in favour of decliners as of the 57 securities traded for the day 20 declined while 19 advanced and 18 stocks closed unchanged.
Among the sectoral indices, the Financial index gained 1.02 per cent, supported by gains from BankDhofar, Ominvest (+2.85 per cent at 433bz) and National Bank of Oman (+1.06 per cent at 285bz).