Muscat Stocks decline ahead of OPEC meeting

Stocks on the Muscat bourse fell as investors adopted a cautious tone

  
30 November 2016
Muscat - Most stocks on the Muscat bourse fell as investors adopted a cautious tone ahead of the key OPEC meeting on Wednesday.

The benchmark MSM30 index slipped 0.09 per cent to close at 5,481.30.

Trading activity deteriorated from the previous day as turnover declined 79.4 per cent to RO3.35mn and volumes  dropped 71 per cent to 12.43mn shares traded.

All the subindices fell, led by the Services gauge, which lost 0.28 per cent. The Financial index gave up 0.11 per cent while the Industrial index rose 0.07 per cent.

The MSM Shariah index closed down 0.31 per cent at 845.61.

Market breadth remained negative as just five stocks closed higher, against 21 decliners, while 13 scrips closed flat for the day.

Top gainers on the local bourse were Voltamp Energy, BankDhofar and HSBC Bank Oman, which closed up 1.7 per cent, 0.94 per cent and 0.89 per cent, respectively. Top laggards included Al Jazeira Services, Al Hassan Engineering and Renaissance Services which closed down 4.6 per cent, 3.3 per cent and 3.1 per cent, respectively.

© Muscat Daily 2016

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