The MSM30 index inched down 0.09 per cent to close at 6,915.26 on Sunday following pressure from dividend adjustments.
Market volume increased in the session due to the return of speculative activity, coupled with the probability of reinvestment of distributed dividends. Month-end activities also resulted in an increase in volumes.
Al Anwar Holding Co topped the gainers as investors reacted positively to the company's announcement regarding the IPO price of its subsidiary Al Maha Ceramics.
Investors also continue to focus on high dividend yield companies, as shown by the strong trading on selected shares like Gulf Investment Services.
It is however worth noting that the market continues to show a lack of depth on blue-chip companies, such as Bank Muscat, Omantel, NBO, Raysut, as trading on these stocks contributed less than ten per cent of total trades.
Declines were witnessed in all the sub-indices except the Financial index, which rose by 0.63 per cent to 8,197.62. The Industrial and the Services indexes dropped 0.86 per cent and 0.48 per cent, respectively.
The MSM Shariah index closed down 0.74 per cent at 1,162.27.
Local institutional investors were net sellers while GCC, foreign institutions as well as local individuals were seen entering the market.
Among the other top gainers were Oman and Emirates Investment Holding (+5.58%), Gulf Investment Services (+4.86%), Oman Investment and Finance (+1.49%) and National Bank of Oman (+1.38%).
© Muscat Daily 2014
