Investors speculated on better first quarter results as the Muscat Securities Market general index closed higher by 0.92 per cent at 5,882.93.
OIFC (+0.44 per cent at 228bz) topped the volumes and turnover lists, buoyed by impressive results from Bank Sohar (+5.26 per cent at 160bz), with the lender reporting a net profit of RO5.3mn, posting a 74 per cent increase over the same period last year. A total numbers of 2,513 trades were executed generating turnover of RO8.8mn while 45.72mn shares were exchanged.
Market activity remained in favour of advancers as of the 52 securities traded, 21 advanced while 16 declined and 15 stocks closed unchanged.
Top gainers included Al Hassan Engineering (+6.15 per cent at 276bz), Bank Sohar, Al Jazeera Steel Products (+4.09 per cent at 280bz), Galfar Engineering (+3.88 per cent at 428bz) and Maha Petroleum (+3.84 per cent at RO14.48) while National Mineral Water (-4.48 per cent at 64bz), Oman Foods (-4.11 per cent at 140bz), Global Financial (-2.73 per cent at 107bz), Financial Services (-2.20 per cent at 89bz) and Al Anwar Holding (-2.01 per cent at 146bz) closed in the negative. Omani Investors continued as net sellers and sold a net of 6.8 per cent of the total traded value followed by foreigners as net sellers for 1.7 per cent of the traded value while GCC & Arab investors supported the index with a string buying and bought a net of 8.5 per cent of the traded value.
By arrangement with National Bank of Oman
© Muscat Daily 2012
