Oman’s Stock Exchange Falls Most in Five Years because of Oil Prices

Muscat: Muscat Securities Market (MSM) witnessed the biggest fall in share index among Gulf bourses, when the general index fell sharply by 6.21 per cent or 430.89 points to close at 6,505.99.

Oman crude oil prices touching a five-year low at $69 per barrel is cited as the major reason for the severe fall, although the recent rise in natural gas prices also affected the market sentiment. Opec on Thursday maintained its output ceiling unchanged despite sliding crude prices.

Local bourse witnessed one of the biggest falls in a single session in more than three years amid weak investor sentiment.  Read more . . .

Source: Times of Oman





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