Omani stocks see risks with oil volatility in sight

Omani stocks see risks with oil volatility in sight

Muscat: The Omani stock market recorded limited price movements during a shorter trading week, stabilising to a certain extent after the constant losses of this month, according to an industry expert. "However, the market could be exposed to additional declines during the coming trading sessions if sentiment remains pessimistic and traders maintain their cautious stance," said Ahmed Negm Head of Market Research MENA at XS. com. "While the main index recorded a slight rebound compared to its lowest point last week, it failed to build a clear reversal from the current downward trend," he added. While the market's global performance was limited, its sectors witnessed mixed results. The services and financial sectors climbed, reversing part of the decline they recorded during the week before. The industrial sector however fell, extending losses from previous weeks. The services sector was a clear leader, recording a 2 percent increase, but continued its seesawing performance over the weeks. This week saw a return to declining trading volumes. Among individual stocks, the Oman Arab Bank (OAB) stock recorded a significant increase of more than 7 percent in the week, recovering its losses from the previous week. Among banks, it was followed by Bank Nizwa which