MSX trading value rises to RO 66.9 million in July

Muscat: The trading value on the Muscat Stock Exchange increased last July to OMR 66.9 million, registering an increase of 26.7 percent from its level in June of OMR 52.8 million, benefiting from the increase in trading in the shares of Bank Muscat, Abraaj Energy Services and Omantel. Omvest perpetual bonds and the issuance of 59 government development bonds, which collectively accounted for 46 percent of the total trading value.

Last month, investors focused on Abraaj Energy Services, which witnessed the execution of 1,254 transactions. The stock rose during trading to 318 baisas, but it was unable to maintain this level. It ended July trading at 306 baisas, down 6 baisas from its level in June.

Bank Muscat’s share also attracted the interest of investors, and witnessed the execution of 1094 transactions, and was able to add 4 baisas to its level, concluding July trading at 280 baisas. And the deals executed in July rose to 10,914 deals, compared to 8,308 deals in June, recording a rise of 31.3 percent.

The main index of the Muscat Stock Exchange rose 7 points and closed at 4,776 points. However, the performance of the sectoral indices was negative and they all closed down. The industry sector index declined by 27 points, the service sector index lost 22 points, and the Sharia index declined by 9 points. The financial sector index recorded the lowest declines, at two points.

The sectoral indices were affected by the decline in the shares of a number of leading companies. The total number of securities whose prices declined last month amounted to 44 securities, compared to 32 securities whose prices rose and 15 securities that stabilized at their previous levels. Oman Chrome stock recorded the highest rise, up by 28.5 percent, and closed at 4 riyals and 500 baisas. the past.

Voltamp Energy’s share rose by 21.9 percent, closing at 128 baisas. The company said that in the first half of this year it was able to record a net profit of RO 110,000 after recording losses of more than RO 1,129,000 in the first half of last year.

The share of National Finance came in the third place among the shares that rose the most in terms of the percentage of the share’s increase, as it increased by 21.5 percent and closed at 158 ​​baisas, and the share of the Arab Insurance Company Falcon came in the fourth place, up by 20 percent, and closed at 120 baisas, and the share of Barka Water rose. Energy increased by 19.4 percent, and closed at 43 baisas.

The share of Majan Glass led the losing stocks, declining by 81 percent and closed at 30 baisas, the share of Al-Madina Investment Holding fell by 21 percent and closed at 41 baisas, the share of Oman Investment and Finance declined by 15 percent and closed at 74 baisas, and the share of Galfar Engineering and Contracting fell by 11.9 percent and closed At 162 baisas, Musandam Energy declined by 10.2 percent and closed at 280 baisas.