Omantel drags share market

MUSCAT — Omani stocks shed 2 percent in the week to Thursday as heavy profit taking in Oman Telecommunications Co (Omantel) shares undermined market sentiment, analysts said.

By (Reuters)

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Published: Fri 5 Aug 2005, 11:01 AM

Last updated: Thu 2 Apr 2015, 4:12 PM

The Muscat Securities Market 30-share index fell 106.9 points to 5,211.6 points. It was a sixth consecutive weekly decline, as investors focused on Omantel -- which is not part of the index. The index is still up 54 per cent in 2005.

Omantel dominated trading with more than 80 per cent of total turnover of 39.1 million rials ($101.6 million).


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