Muscat Stock Exchange Trading Value Rises 2.4% to RO 252.1 Million

Muscat Stock Exchange Trading Value Reaches RO 252.1 Million

Muscat: Trading value on the Muscat Stock Exchange (MSX) rose last week to RO 252.1 million, compared with RO 246.1 million in the previous week, registering an increase of 2.4%.

The rise came amid increased investor activity and efforts to diversify investment portfolios ahead of expected dividend distributions by a number of listed companies in the coming weeks.

The number of executed transactions increased by 2.2% to more than 42,000 transactions, while the market value of securities listed on the exchange rose by approximately RO 140.3 million during the week to reach RO 38.33 billion.

The MSX 30 Index gained 14 points to close at 7,522 points.

Among sectoral indices, the financial sector recorded the strongest performance, rising by 93 points to close at 13,248 points, supported by gains in bank shares and a number of investment companies.

The services sector index increased by eight points, supported by gains in shares of OQ Gas Networks, Al Jazeera Services, OQ Exploration and Production and Abraj Energy Services, among others. The Sharia Index also gained three points.

In contrast, the industrial sector index declined by more than 100 points, weighed down by declines in several industrial companies, including Salalah Mills, Galfar Engineering and Contracting, Al Anwar Ceramic Tiles, Al Maha Ceramics, OQ Basic Industries and Voltamp Energy.

OQ Basic Industries was the most actively traded company by value, recording transactions worth approximately RO 47.5 million, equivalent to around 19% of total market trading value.

Bank Muscat followed with trading worth RO 45.8 million, accounting for 18.1%, while Bank Sohar International recorded trades worth RO 40.6 million, representing 16.1%.

OQ Exploration and Production accounted for approximately 14.4% of total trading value, with transactions worth RO 36.4 million. Its share price rose by 11 baisa during the week to close at 481 baisa, while its market capitalisation increased by RO 88 million to reach approximately RO 3.848 billion.

OQ Gas Networks ranked fifth in terms of trading value, recording approximately RO 28.4 million, or 11.2% of the total. Omantel ranked sixth with trading worth approximately RO 17.3 million, while its share closed at RO 1.398.

During the week, prices of 39 securities increased, while 40 securities declined and 17 remained unchanged.

Among the top gainers, Omani Free Finance Bonds 2022 rose by 13.7% to close at 99 baisa, followed by International Financial Investments, which gained 11.5% to close at 339 baisa.

Omani Free Finance Bonds 2020 increased by 6.2% to 85 baisa, Building Materials Industry gained 6.1% to 69 baisa, while Al Maha Petroleum Products Marketing rose by 6% to close at RO 1.220.

On the other hand, Al Jazeera Services’ premium shares recorded the largest decline, falling by approximately 20% to 629 baisa. Salalah Mills declined by 10% to 531 baisa, Ominvest fell by 5.6% to 401 baisa, Galfar Engineering and Contracting decreased by 5% to 150 baisa, while Muscat Gases fell by 4.1% to 139 baisa.