dividend announcements drive muscat bourse
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

Dividend announcements drive Muscat bourse

Egypt Today, egypt today

Egypt Today, egypt today Dividend announcements drive Muscat bourse

Muscat Securities Market
Muscat - Arab Today

Recovery on the Muscat Securities Market (MSM) is expected to gather momentum, thanks to better dividend announcements of the corporate sector and a firm trend in crude oil prices.

Dividend announcements so far were in line with the market expectations. 

“The broad market outlook is positive, although a rally was not seen in the market,” said Suresh Kumar, head of research at Al Maha Financial Services.

He said the market had remained flat in the last couple of months, after a rally amidst Opec’s decision to cut oil production. “Dividend announcements are in line with the market expectations, which are based on historic payouts. This is partially driving the market,” added Suresh Kumar. Besides, the macro-economic factors are also favourable.

The MSM general index rose 17.32 points to close at 5,869.43, with 20.42 million shares changing hands on Wednesday. The major gainers include Oman Textiles, Oman Fisheries, Oman and Emirates Investment Holding, Galfar Engineering and Contracting, Renaissance Services and HSBC Bank Oman.

Better demand was seen in the case of stocks that lost value in the last month or so.

Suresh Kumar said the dividend money of investors will come back to the market as reinvestment, either by way of new initial public offering subscriptions or in the secondary market. Seven national insurance firms are expected to come out with initial public offerings within five months, while plans are afoot to offer shares of Mining Development Oman to the investing public.

Dividends

Listed companies on the Muscat Securities Market are expected to maintain total dividends for 2016 at the previous year’s level of OMR350 million.

According to market sources, MSM 30 companies alone have achieved a 16 per cent growth in net earnings at OMR630 million in 2016 and the payout of these major companies is seen at 50 per cent.

Scores of listed companies, including banks, leasing and hire purchase firms, oil marketing firms and utility companies, have already announced their dividends for 2016. As many as 130 companies are listed on the Muscat Securities Market, but a section of listed firms will not offer any dividend due to losses. Traditionally, telecommunication, oil marketing firms and utilities are the dividend pay masters in Oman.

Traded volumes on the Muscat bourse were moderate since the beginning of this year.

Source :Times Of Oman

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

dividend announcements drive muscat bourse dividend announcements drive muscat bourse



GMT 12:30 2018 Friday ,14 December

Noriaki Kasai: 30 years of World Cup ski-jumping

GMT 14:25 2018 Friday ,12 October

Petroleum minister calls on prime minister

GMT 12:11 2016 Saturday ,03 September

Alex dreams of maiden win after taking Manulife lead

GMT 12:17 2017 Tuesday ,17 October

May and Juncker agree to 'accelerate'

GMT 08:19 2017 Sunday ,29 October

Pope decries low birth rates in Europe

GMT 21:45 2017 Sunday ,31 December

October24th-November22nd

GMT 01:55 2011 Monday ,07 March

Boho chic Marylebone cashing in on its past

GMT 00:11 2013 Tuesday ,05 March

French actor Omar Sy joins \'X-Men\' cast

GMT 14:28 2017 Tuesday ,26 September

TAURUS (April21st-May21st)

GMT 06:58 2017 Wednesday ,16 August

Saudi students win international Olympiads 2017

GMT 03:11 2017 Monday ,17 April

800 new employment

GMT 10:30 2017 Saturday ,09 December

UAE's travel,tourism sector proves

GMT 14:45 2016 Saturday ,17 December

Iranian soccer league standings

GMT 10:06 2017 Thursday ,26 October

Passengers face new security interviews

GMT 12:25 2016 Wednesday ,02 March

Jewellers across gold-loving India strike over tax

GMT 06:05 2011 Monday ,01 August

BBC journalists strike over job losses

GMT 14:17 2017 Tuesday ,05 December

France expresses deep concern over situation in Yemen

GMT 08:43 2012 Tuesday ,07 August

UN bid top priority for PA

GMT 08:38 2018 Monday ,03 December

Renault launches first-of-its-kind test drive service

GMT 14:41 2018 Wednesday ,31 October

UN deputy envoy discuss assistance to Syria
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday