Wednesday 15 / January / 2025
Muscat: The Muscat Stock Exchange (MSX) recorded last year the best trading value in 5 years, benefiting from the demand for buying by local and foreign investment funds, institutions and Omani individuals, with the improvement in stock prices, the rise in profits of public shareholding companies listed on the stock exchange, and the rise in oil prices.
Last year, the trading value rose to about OMR940.3 million, up for the third year in a row, after witnessing transactions worth OMR441 million in 2020, and OMR818.2 million in 2021.
The trading value witnessed by the Muscat Stock Exchange last year is the best trading value since 2017, amounting to OMR992.7 million. Efforts to attract foreign investments in a number of economic sectors for diversification as well as preparing for new subscriptions on the MSX to be launched by the Omani Investment Authority (OIA) during the current year as part of its plan to exit some investments, will contribute to providing new options for investors and thus raise the value of trading on the stock exchange.
Last year, the Muscat Stock Exchange recorded a number of other positive indicators. The main index of the Stock Exchange increased by 17.6 per cent, which is higher than the 12.8 per cent increase recorded by the index in 2021. The index closed at the end of last year’s trading at 4,857 points, up by 727 points, compared to a rise of 470 points in 2021.
The financial sector index rose 1,325 points, recording a strong rise of 20 per cent, and closed at 7,903 points. The industry sector index rose 350 points, or 5.7 per cent, and closed at 6,427 points, while the Sharia index recorded a decline of about 5 per cent and closed at 505 points, down by 26 points. The services sector index declined slightly by 4 points, concluding the 2022 trading year at 1616 points.
The market capitalisation of the securities listed on the Muscat Stock Exchange increased at the end of 2022 to OMR23.73 billion, recording gains of more than OMR1.64 billion. Closed companies and the bond and Sukuk market led to an increase in the market value of the Muscat Stock Exchange.
The market value of closed companies at the end of last year amounted to OMR10.3 billion, up OMR151.3 million from its level at the end of 2021. The market value of the bonds and Sukuk market increased to OMR4.8 billion, recording an increase of about OMR200 million from its level a year ago, while the value jumped. The market share of public shareholding companies reached OMR8.57 billion, recording annual gains of about OMR1.30 billion.
Bank Muscat came at the forefront of the most heavily traded companies, after witnessing transactions with a value of OMR200.5 million, representing 21 per cent of the total trading value, Omantel came second to OMR119.1 million, then the National Bank of Oman ranked third with transactions amounting to OMR81 million.
The past year witnessed the trading of 138 securities, including public shareholding companies, the bond market, Sukuk and preference rights. The number of securities that recorded an increase reached 48, while the prices of 65 securities declined and the prices of 25 securities remained stable.
Oman Chlorine share recorded the best rise, rising by 184 per cent and closed at 568 baisas, Galfar Engineering and Contracting shares rose 138 per cent and closed at 174 baisas, Building Materials Industry rose to 74 baisas, up by 111 per cent, and Oman Fisheries rose 82 per cent and closed at 106 baisas, while the share of the Oman Cable Industry rose by 64 per cent and closed at one riyal and 700 baisas.
Barka Water and Energy was at the forefront of the losing stocks, declining by 50 per cent and closing at 239 baisas, Sohar Energy’s share fell by 48 per cent and closed at 20 baisas, Al Madina Investment’s share fell to 25 baisas, recording a decline of 47.9 per cent, and Al Hassan Engineering fell to 10 baisas. down by 44 per cent.
