Muscat Securities Market Weekly Report

The MSM index closed the week ended Thursday, December 19. '02, at 192.46 points, which is 0.4% higher than 191.70 in the preceding week. The Banks & Investment Sector and the Services Sector appreciated by 0.5% and 0.4% respectively, while the Industry Sector remained unchanged. In the Industry Sector, Salalah Flour Mills registered the highest price appreciation of 5.6%. Other index linked scrips which registered gains were Al Anwar Ceramic Tiles, Oman Textile Mills and Muscat Gas. In the B&I Sector, Bank Muscat came under selling pressure and the scrip declined by 0.3%. There was buying interest in NBO, OIB and Alliance Bank, which registered gains of 2.3%, 1.3% and 2.4% respectively. Among the investment companies, ONIC Holding, DIDIC and United Finance recorded gains of 2.1%, 2.2% and 4% respectively. In the Services Sector, BP Oman and Topaz both appreciated by 2.7%.

Total trading volume during the week amounted to RO 7.3 million, of which, a special deal in 2.19 million shares in Majan Bank SAOC at RO 1.020, constituted nearly RO 2.2 million. The actively traded scrips were NBO (422,448 shares), ONIC Holding (444,183), OIFC (311,053), OIB (229,143) and United Finance (216,831). Units of the Oryx Fund and Majan Fund witnessed considerable activity, with 187,230 and 156,199 units being traded respectively.

There were 32 gainers and 19 losers during the week. The major gainers of the week were OIFC (+24.3%, closing price 920 bz), Musandam Inv. & Finance (+20%, 120 bz), Al Jazeera Pipes (+14%, RO 2.280), Al Mawarid Securities (+12.5%, 270 bz) and Al Khuwair Dev. & Services (+9.1%, 480 bz).

The major losers of the week were Al Batinah Dev. & Inv. Holding (-14.3%, 300 bz), Dhofar Insurance (-14.3%, RO 4.210 ex-dividend), Gulf Hotels (-9.4%, RO 1.060), Oman Hotels & Tourism (-7.4%) and Al Shalman Securities (-4.6%).