• Oman

    • MSX heading upwards, with the Oman Investment Authority allocates OMR 100 to boost liquidity

    By on July 2, 2023
    msx
    msx

    Muscat: The initiatives announced by the Muscat Stock Exchange in cooperation with the National Financial Sustainability Program and the Oman Investment Authority (OIA) have restored optimism to the Muscat Stock Exchange to witness a consecutive rise in the last five days of June trading; To push the main index of the Stock Exchange to record its best monthly rise during the current year, up 141 points, including 86 points in the last four days of last month’s trading, and the main index of the Stock Exchange ended its trading at 4768 points, recording its best level since April 17.

    On the 21st of June, the Muscat Stock Exchange, in cooperation with the National Program for Financial Sustainability, announced 6 initiatives; To enhance the position of the stock exchange and attract investments to it, including initiatives related to the market maker, lending and borrowing of securities, and the liquidity fund, in addition to the Oman Investment Authority’s announcement of allocating OMR 100 million to support liquidity in the stock exchange through the “Liquidity Fund” initiative launched by the authority in cooperation with the program National Financial Sustainability and Development of the Financial Sector.

    The Oman Investment Authority said: The “Liquidity Fund” initiative includes a portfolio valued at OMR 100 million to support the initiatives of the market maker and liquidity provider on the Muscat Stock Exchange, explaining that the portfolio will constitute a percentage of the daily trading volume on the stock exchange, and the agency also affirmed its readiness to cooperate with companies that will operate in Market making in the field of attracting new investments and liquidity to the Stock Exchange.

    It is expected that this positive atmosphere will be reflected in the trading of the Muscat Stock Exchange in July, at a time when public joint stock companies will announce their financial results for the first half of this year.

    These initiatives came at a time when the national economy is witnessing good growth with high government revenues and increased government spending. Which is expected to reflect positively on the public shareholding companies listed on the stock exchange.

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