Omani Individual Investors Increase Buying on Muscat Stock Exchange

MSX Trading Hits RO 363.6 Million Amid Strong Buying Interest”

Muscat: Omani individual investors shifted towards buying activity during last week’s trading on the Muscat Stock Exchange (MSX) following the completion of first-quarter financial disclosures by listed companies.

The move coincided with the MSX’s implementation of a new classification of listed companies across the regular, parallel and follow-up markets as part of its annual evaluation process.

Trading data showed that Omani individual investors purchased shares worth RO 80.6 million, representing 22.1 percent of total trading value, compared to sales worth RO 75.3 million, accounting for 20.7 percent of total trading.

The Muscat Stock Exchange recently announced amendments to the distribution of public joint-stock companies among market segments, effective from 7 May. The changes included the transfer of 19 companies from the parallel market to the regular market, one company from the regular market to the parallel market, and two companies from the follow-up market to the parallel market after meeting shareholder equity requirements.

Following the amendments, the number of companies listed on the regular market increased from 24 to 43, while companies in the parallel market decreased from 72 to 56. The number of companies in the follow-up market declined from 17 to 14.

The number of executed transactions increased by 11.7 percent last week, rising from 27,000 to more than 30,000 transactions. Meanwhile, total trading value declined by 1.7 percent from RO 370.1 million to RO 363.6 million.

Sector indices on the MSX recorded gains, while the main index declined by 19 points to close at 8,350 points amid selling pressure on several leading stocks.

The services sector index posted the highest gains, rising by 61 points to close at 3,328 points, supported by gains in shares of Asyad Shipping, Abraj Energy Services, Sembcorp Salalah and Al Anqa Energy.

The financial sector index rose by 28 points to close at 13,267 points, while the industrial sector index gained 23 points to close at 10,214 points. The Sharia index increased by six points to end at 662 points.

The market capitalization of securities listed on the exchange declined to RO 38.3 billion at the end of last week’s trading, recording weekly losses of RO 93.6 million.

OQ Exploration and Production topped the list of most traded companies by value at RO 67.2 million, representing 18.4 percent of total trading value. Bank Muscat followed with RO 66.1 million, while Sohar International recorded trading worth RO 56.3 million.

A total of 43 securities recorded gains during the week, while 36 securities declined and 18 remained unchanged.

Oman Arab Bank mandatory convertible bonds recorded the highest increase, rising by 48.3 percent to close at RO 1.500. Shares of Dhofar Food and Investment rose by 17.7 percent to close at 206 baisas, while Abraj Energy Services gained 10.4 percent to close at 495 baisas.

Meanwhile, Financial Centre “Fincorp” shares recorded the largest decline, falling by 15.3 percent to close at 105 baisas. Omantel shares declined by 4.5 percent to close at RO 1.479, while Bank Muscat shares fell by 3.7 percent to close at 458 baisas.