MSM 30 index reconstituted

19/06/2011 00:00 AST

Muscat Securities Market (MSM) has reconstituted the basket of stocks in the main general index named ‘MSM-30’ by replacing relatively less active or less liquid shares with active stocks.

In addition to the standard annual study, the MSM has decided to include changed the names of the there sectors. Banking & Investment sector will now be called the Financial Sector; Services & Insurance sector will be the Services Sector, while the Industry Sector remains the same.

Additionally, each sector (Financial Sector, Services Sector, and Industry Sector) will include sub-sectors and the three sectorial indices will include 15 companies instead of 10 to enhance the coverage. Also, companies will be classified based on their main activity, says a MSM press release.

MSM 30 is calculated after taking into account fluctuations in share values of 30 companies selected from three different sectors — banking and investment, industry and services and insurance.

The average daily price of the selected firms is considered for finding the index.

MSM-30 gives importance to company fundamentals while selecting the group of shares in the index. The company has to make profit for the last three consecutive years and the equity should not be eroded.

Few years ago, the local bourse had changed its base point of general index to 1,000 from 100 points.


Times of Oman

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