MSX trading value rises to RO 20.9 million

MSX
MSX

Muscat: Trading value on the Muscat Stock Exchange rose last week to RO 20.9 million, recording a growth of 30.6 percent from its level a week ago, which amounted to RO 16 million.

The shares of OQ Gas Networks, Omantel, Bank Muscat, Abraaj Energy Services, and Sohar International Bank continues to rise amid positive expectations, accounting for an 65 percent of the total trading value.

The trading value of OQ Gas Networks shares amounted to RO 4.1 million, representing about 20 percent of the total trading value. Omantel witnessed RO 3.1 million, Bank Muscat shares amounted to RO 2.7 million.

While the trading value of Abraaj Energy Services shares amounted to RO 2.7 million, and Sohar International Bank witnessed trades worth RO 1.305 million, representing 6.2 percent of the total trading value. The number of deals executed last week increased by 38 percent from 3,557 deals to 4,915 deals.

OQ Gas Networks and Abraaj Energy Services accounted for 50.5 percent of the total number of deals executed last week. Abraaj’s shares rose to 318 baisas, up 16 baisas during the week, and OQ Networks’ shares rose. Gas rose to 150 baisas, up by 1 baisa during the week. Last week, the main index of the Muscat Stock Exchange resumed its rise, rising by 20 points and closing at 4,607 points. The financial sector index rose by 10 points, and the services sector index recorded a slight increase of about one point, while the industrial sector index recorded a decline of 26 points, and the Sharia index declined by one point.

The market value declined at the end of last week’s trading to 23 billion and 836 million Omani riyals, recording weekly losses of 90 million Omani riyals. Affected by the decline in the market value of the bond and sukuk market last week, by 100 million Omani riyals, it fell by the end of Thursday’s trading to 4 billion and 291.9 million Omani riyals. Last week, the prices of 26 securities rose compared to 27 securities whose prices declined and 23 securities stabilized at their previous levels.

The Oman and Emirates Holding Company share recorded the highest increase, rising by 17 percent and closing at 55 baisas, and the Oman Educational and Training Investments share rose by 9.9 percent and closing at 387 baisas. baisas, and Takaful Oman Insurance shares rose to 48 baisas, rising by 9 percent. Al Suwadi Energy shares recorded the highest declines and closed at 20 baisas, down by 9 percent. Al A’Saffa Foods shares fell by 7.2 percent and closed at 320 baisas, and Oman Real Estate Fund units fell by 6.7 percent and closed at 83 baisas.

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