Mixed Performance on Muscat Stock Exchange Amid Earnings Season

Industrial and Financial Sectors Support MSX Despite Overall Dip

Muscat: The Muscat Stock Exchange (MSX) recorded mixed results in last week’s trading, amid anticipation of the completion of financial results announcements and profit distribution recommendations by public shareholding companies.

The MSX main index closed at 6,214 points at the end of the week, declining by 9 points after two consecutive weeks of gains. The services sector index fell by 23 points, affected by declines in the shares of Renaissance Services, Ooredoo, and several energy companies included in the sector’s sample.

In contrast, the industrial sector index continued its upward trend, gaining 216 points, supported by the performance of Voltamp Energy, Al Safa Foods, Al Anwar Ceramic Tiles, and Gulf International Chemicals. The financial sector index rose by 117 points, benefiting from gains in Bank Muscat, Bank Nizwa, Ominvest, Al Madina Takaful, and a number of finance companies. The Sharia index also increased by 13 points, closing at 583 points.

The market value of securities listed on the MSX rose to OMR 33.262 billion by the end of last week’s trading, recording weekly gains of OMR 11.7 million.

Trading activity showed a 1.6 percent increase in the number of executed transactions, exceeding 20,500 transactions, compared to 20,231 transactions in the previous week. Meanwhile, the value of trading declined by 25.4 percent, falling from OMR 174.6 million to OMR 130.1 million.

Investor activity focused on the shares of Bank Muscat, Omantel, and OQ Exploration and Production, which together accounted for 56 percent of the total trading value. Bank Muscat topped the list of most traded companies with trades worth OMR 30.8 million, followed by Omantel at OMR 21.6 million, and OQ Exploration and Production at OMR 20.7 million.

Trading data issued by the MSX showed that gaining stocks outnumbered declining ones, with the prices of 40 securities rising, compared to 34 securities declining, while 21 securities remained unchanged.

Financial Services led the gainers, rising by 41.2 percent to close at 89 baisa, after preliminary results showed net profits of OMR 96,000 last year, compared to losses of OMR 99,000 in 2024. Dhofar Food and Investment shares rose by 40.9 percent, closing at 155 baisa, after the parent company recorded net profits of OMR 2.6 million, compared to losses of OMR 53,000 in 2024, while group losses narrowed from OMR 4.1 million to OMR 324,000.

Other notable gainers included Al Safa Foods, whose shares rose by 16.3 percent to 704 baisa, United Finance, up 14.2 percent to 88 baisa, and Voltamp Energy, which gained 13.7 percent to close at OMR 1.445.

On the losing side, Taajeer Finance led declines, falling by 5.8 percent to 128 baisa, followed by Salalah Mills, down 4.7 percent to 400 baisa, and Oman Oil Marketing Company, which declined by 4.3 percent to 841 baisa.

In company news, Desert Hospitality announced its intention to distribute cash dividends of 250 baisa per share for the financial year ending 30 November, noting that the recommendation will be presented to shareholders at the Annual General Meeting scheduled for 24 February.

The company reported net profits of OMR 2.7 million in the previous fiscal year, compared to approximately OMR 2.9 million in the fiscal year ending 30 November 2024. The share closed at OMR 2.800 in its most recent trading session. The company’s share is indivisible and has a nominal value of one Omani rial.