MSM announces annual revision of market indices
The Muscat Securities Market (MSM) has announced changes in the constituents of the benchmark MSM30 index and three sectoral indices following the annual revision of those indices. The changes in the indices will be effective from July 1.
‘The Muscat Securities Market has completed the annual revision of the constituents of the MSM30 index and three sectoral indices (financial, services and industrial). The modified samples shall be effective as from July 1, 2019’, the Muscat Securities Market said in a circular.
As per the circular, five companies namely, Alizz Islamic Bank, National Gas Company, Al Jazeira Services Company, Al Madina Investment Company and Oman & Emirates Investment Holding Company have been removed from the benchmark MSM30 index this year. To replace these firms, the MSM30 index witnessed the entry of five new companies, namely Oman Refreshment Company, Muscat Finance Company, Al Suwadi Power Company, Al Batinah Power Company and Al Maha Petroleum Products Marketing Company.
Among sectoral indices, the financial sector index witnessed the entry of Muscat Finance Company while Oman & Emirates Investment Holding Company was removed from the index.
In the services sector index, Dhofar Generating Company and Muscat City Desalination Company were added to the index, while Sohar Power Company and Oman National Engineering and Investment Company were removed from the services sector index.
The sample of the industrial sector index witnessed the exit of Gulf International Chemicals Company and National Mineral Water Company from the index this year. These two firms will be replaced by National Detergent Company and Oman Chlorine Company in the industrial index sample.