Times of Oman
MSM turnover touches OMR75m
August 5, 2017 | 3:14 PM
by ONA
MSM was affected, like other Gulf Cooperation Council financial markets, due to a decline in oil prices and its impact on the economies of the region. - Times file picture
 
Sharelines

Muscat: Traded volume and turnover of the Muscat Securities Market (MSM) increased to OMR75.4 million in July, from OMR41 million in June 2017, which was the lowest turnover this year.

MSM was affected, like other Gulf Cooperation Council (GCC) financial markets, due to a decline in oil prices and its impact on the economies of the region. The main index closed at 5,024 points, down by 94 points, its fifth monthly decline this year, which registered only a slight rise of about four points in February. In June 2017, it recorded the highest loss of more than 303 points.

In July, listed companies disclosed their financial results for the first half of 2017, which showed a fall in profits, compared with the same period last year, pushing shares of 43 companies to decline, compared with a price rise in 12 companies, while 18 companies maintained their previous levels. The market’s value in July lost OMR98 million, and amounted to OMR17.61 billion at the end of the month.

The industry sector index recorded the highest losses, falling by 4.5 per cent, closing at 6,792 points, thus losing 325 points. The financial sector index slipped 147 points. The services sector lost about 98 points and the Sharia index shed 20 points.



Oman National Engineering and Investment’s shares were the top gainer, closing at 153 baisas, up by 21.4 per cent. Oman Oryx Leasing’s shares rose 3.6 per cent to close at 172 baisas. Al Ahli Bank shares rose 2.9 per cent to close at 175 baisas.

Shares of National Gas recorded the highest loss, closing at 304 baisas, down 20 per cent. National Securities’ shares fell by 18.3 per cent to close at 40 baisas. National Aluminum Products’ stock fell to 131 baisas, down 17 per cent.

Bank Muscat’s shares were the most heavily traded, in terms of a turnover of OMR13 million, representing 22.7 per cent of the total trading value, followed by Oman Telecommunications Company (Omantel) at OMR7.9 million and Sembcorp Salalah at OMR7.2 million.

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