Muscat Stock Exchange Index loses 91 points in May closes at 4626 points

Muscat: The main index of the Muscat Stock Exchange declined in May by 91 points and closed at 4,626 points, recording its lowest monthly closing level during the current year, amid a wave of decline that included many leading stocks, which pressured the stock indices and pushed them to close down.

The industrial sector index recorded the highest decline after losing 306 points, the service sector index lost 45 points, the financial sector index lost 42 points, and the Sharia index recorded a decline of 22 points.

These declines came amid a decline in investor sentiment for the second month in a row, despite the positive results announced by public shareholding companies in the first quarter of this year, which indicated an improvement in the performance of most of the leading companies. 110 points in March and 50 points in February.

Trading statistics issued by the Muscat Stock Exchange indicated that the prices of 59 securities declined in May, compared to 17 securities whose prices increased and 14 securities that maintained their previous levels.

Last month, the Muscat Stock Exchange was affected by the decline in the shares of many leading companies, such as Bank Muscat, Omantel, Ooredoo, Al Anwar Ceramic Tiles, Al Maha Ceramics, Oman Investment and Finance, Ominvest, energy companies and many other shares. The share of Al-Madina Investment Holding recorded the highest increase, after it rose from 25 baisas to 50 baisas, recording a 100 percent increase, the share of Dhofar Food and Investment rose by 20 percent and closed at 78 baisas, and the share of Muscat Gases rose to 120 baisas, recording an increase of 13.2 percent. Bank Dhofar shares increased by 12.9 percent and closed at 175 baizas, while Al-Anwar Investments rose to 91 baizas, up by 11 percent. Last month witnessed an increase in the number of executed deals to 13,977, compared to 11,000 deals in April, recording a growth of 27 percent.

However, the trading value declined to 59.6 million Omani riyals, compared to 122.4 million Omani riyals in April, recording a decrease of 51.2 percent.

The statistical data showed an increase in the sales of local investment institutions to reach 62 percent of the total trading value, compared to purchases of 54.1 percent of the total trading value, while Omani individual investors tended to buy, accounting for 25.3 percent of the total trading value, compared to sales of 20.9 percent of the total trading value.

The market value of the securities listed on the Muscat Stock Exchange declined at the end of last May to RO 23 billion and 656 million, recording monthly losses of RO 89.4 million.