MSM Announces Day Trading

Muscat Securities Market (MSM) announced introduction of Day Trading from Sunday, the 13th of November 2016. Day Trading means buying and selling the same shares in the same trading day, or selling existing shares and buying them back in the same day, through the same broker. Day Trading is usually used by traders seeking to make profits by taking advantage of small price movements in liquid stocks, for that MSM and Oman Brokers Association selected 30 most liquid companies listed in the MSM and traded at least 50% of trading days in 52 weeks to form the eligible list of companies for day trading. A cap of 200,000 shares is set for each company, meaning that a trader can do day trading and get commission discount up to this cap in each company. Any day trading after the cap will be considered normal trading and the normal trading commission is applied.