Muscat Securities Market hard hit

The Muscat Securities Market benchmark MSM-30 index fell by 7.29 per cent yesterday following a 6.7 per cent fall on Monday.

Names we follow include Oman Telecommunications Co, down 6.54 per cent, Oman Flour Mills down 10 per cent and United Power also down 10 per cent. Turnover was high and breadth poor. The top fallers by volume traded were BankMuscat and Galfar Engineering.