MSM Loses 99 Points in January

The main index of Muscat Securities Market (MSM) lost 99 points in January 2018 to close at 4999 points, affected by the initial financial results of the public shareholding companies which showed a decline in the performance of many companies.

The sectoral indices also declined in varying degrees. The financial sector index recorded the highest decline, to close at 7375 points, a decline by 98 points. The industrial sector index lost 51 points, the services sector 23 points and the Shari’a index about one point.

During January, MSM listed on Muscat City Desalination Company in the parallel market with a capital of RO15.5 million after the company offered 54.4 million shares of its capital at a price of 116 Baisa for public subscription, which led the trading volume to increase to 304.9 million securities compared with 167 million securities in December 2017. However, the trading value declined from RO62 million to RO52.9 million.

In January 2018, the prices of 27 securities rose, 33 declined, while the price of 12 securities remained unchanged. Muscat City Desalination Company was the top gainer.

On the other hand, Al Hassan Engineering was the top loser, closing at 34 Baisa, a decline by 15%.

Bank Muscat was the most traded company in terms of the value of trading with RO10 million representing 19 per cent of the total trading value.

The market value at the end of January fell to RO17,853.3 million, recording a loss of RO97.5 million.

Source: Oman News Agency