Index down 31.74 points
MUSCAT -- The Muscat Securities Market (MSM) extended its losses from the corrections it recorded last week, with the MSM 30 index closing 31.74 points (0.65 per cent) lower at 4854.65. The decline was amid a sharper drop reported in the financial sector, primarily in the banking stocks, as the sector indicator lost 77.41 points (1.14 per cent) to close at 6688.22. Services and industrial sector notched up 0.14 per cent. Total market activity resumed to normal levels as 1.82 million shares were traded at a total value of RO4.65 million. Most of the equities ended lower as 29 declined while only four managed to advance and six closed unchanged. The four gainers were: Al Maha Petroleum (+2.37 per cent); Oman Cement (+0.72 per cent); Renaissance Services (0.70 per cent); and Oman Oil Marketing (+0.16 per cent). Al Maha Petroleum and Renaissance Services rose on healthy volumes worth RO346,800 and RO218,700, respectively.
Transgulf Holding led the declining shares as it shed 150 baisas (7.32 per cent) to close at RO1.900. Remaining top four decliners included Muscat National Holding (-4.74 per cent), Salalah Mills (-3.85 per cent), Al Sharqiya Holding (-3.51 per cent) and Oman Chlorine (-2.72 per cent). All banking stocks ended lower with BankDhofar declining by 2.05 per cent, Alliance Housing Bank losing 2.00 per cent, National Bank of Oman shedding 1.85 per cent and BankMuscat sliding down by 0.44 per cent. Omantel stayed on top of actively traded shares as it recorded trading in 1.2 million shares at a total value of RO2.2 million. The scrip shed 40 baisas to close at RO1.810. Noticeable volumes were also noted in BankMuscat. In the corporate news, the board of directors of Al Kamil Power Company has approved a payment of interim dividend at the rate of RO0.080 per share to all shareholders registered with the MDSRC as of December 7, 2005.
© Times of Oman 2005
