Muscat Securities Exchange Weekly Report

With the year 2002 coming to an end, sentiments on the MSM continue to remain positive. Market continues to be in the buying mode with occasional days of profit booking. We feel that this trend should continue for another few weeks. Inspite of the recent price hikes, some of the main line stocks continue to trade at attractive dividend yields. This week's rally was led by index heavy weights like Bank Muscat, Oman Fisheries, Ominvest and TEAM. MSM Index opened at 192.46 levels. MSM Index advanced on 3 out of 5 trading days and declined on 2 days. The index closed for the week at 193.37 to post a net gain of 0.91 points or an increase of 0.47%. Service sector was in the limelight this week and it was also the best performing sector for the week.

Volumes were higher as compared to previous week. Average daily traded volume was RO 1,987K as against RO 1,468K in the previous week. Total volume traded during the week was RO 9,933K as against 7,338K during the previous week.

Total of 76 stocks were traded during the week (including Bank Muscat Convertibles, Bank Muscat Bonds, Majan International Bank, Al Madina Fin. & Inv. Services SAOC and Advertising & Publicity SAOC). 31 stocks advanced and 16 stocks declined. 29 stocks remained unchanged. Out of the 30 index stocks, 23 stocks were traded during the week, of which 11 advanced and 6 declined. 6 stocks remained unchanged. Index stock gainers during the week were Oman Fisheries, Alliance Housing Bank, ONEC, TEAM, BP Oman, Bank Muscat, United Finance, Ominvest, Oman Fiber Optic, Port Services and Al Anwar Ceramic Tiles. Index stock losers during the week were Dhofar Cattle Feed, NBO, United Power, Oman Chlorine, ONIC Holding and Oman Textile Mills.