Oman’s MSX 30 Index Rises for Seventh Consecutive Week, Gains 19 Points

MSX 30 Rises 19 Points as Oman Stock Market Gains for Seventh Week

Muscat: The Muscat Stock Exchange (MSX) extended its gains last week, with the main index rising for the seventh consecutive week, supported by gains in banking, industrial, services, investment and energy stocks.

The MSX 30 Index closed the week at 7,647 points, gaining 19 points. Over the past seven weeks, the index has advanced by more than 530 points, supported by improved domestic economic indicators and stronger profits among listed companies.

All sectoral indices recorded gains during the week. The Industrial Sector Index led the rise, gaining 130 points to close above 9,940 points. The Financial Sector Index increased by 123 points to about 13,560 points, while the Services Sector Index gained 17 points. The Sharia Index rose by five points to close at 622 points.

Total market capitalisation of the MSX rose to RO 39.4458 billion, recording weekly gains of RO 530.6 million.

The number of executed transactions increased by 6% to approximately 47,000, compared with 44,000 in the previous week. However, total trading value declined by 19%, falling from RO 244.7 million to RO 196.9 million.

Investors focused on shares of Bank Sohar International, OQ Basic Industries, OQ Gas Networks, Bank Muscat, Asyad Shipping, Oman India Fertiliser, OQ Exploration and Production and Bank Dhofar.

Bank Sohar International ranked first in trading value with transactions worth RO 51.4 million, representing 26.1% of total trading value. OQ Basic Industries ranked second with RO 37.3 million, followed by OQ Gas Networks with RO 21.4 million, Bank Muscat with RO 20 million and OQ Exploration and Production with RO 19.5 million, accounting for 9.9% of the total.

Increased investor interest was also recorded in the shares of Al Anwar Investments, Raysut Cement, International Financial Investments, Al Madina Investment Holding and Al Anwar Ceramic Tiles.

A total of 45 securities advanced during the week, compared with 29 that declined and 24 that remained unchanged.

The building materials manufacturing company recorded the highest gain, rising 15.4% to close at 82 baisa. Al Madina Investment gained 13.7% to 83 baisa, while Al Anwar Investments rose 13.6% to 216 baisa. Al Anwar Ceramic Tiles increased by 7.4% to 158 baisa.

The shares of Al Hassan Engineering, which is under liquidation, recorded the largest decline, falling 16.6% to five baisa. National Bank of Oman’s free bonds 2026 declined by 9.8% to 101 baisa, while the Financial Corporation fell 6% to 94 baisa. Al Batinah Development and Investment declined by 5.4% to 70 baisa, and Bank Dhofar fell 4.6% to 207 baisa.

In company news, Oman India Fertiliser Company has invited shareholders to attend its Ordinary General Meeting on Sept. 30, where the Board of Directors’ proposal to distribute cash dividends of 6.763 baisa per share will be considered.

The company’s share price rose seven baisa during the week to close at 216 baisa, after reaching 219 baisa, its highest level since its listing on the MSX last July.

Trading in Oman India Fertiliser shares reached RO 9.5 million during the week, while the company’s market capitalisation rose to RO 1.4449 billion, recording a weekly increase of RO 46.8 million.