Wednesday 18 / December / 2024
Muscat: The market capitalisation of the Muscat Stock Exchange (MSX) rose at the end of last week to OMR23.67 billion, recording weekly gains of OMR5.8 million.
These gains came as a result of the increase in the market value of closed companies by OMR262.4 million, rising at the end of last week’s trading to OMR10.7 billion, while the market value of public joint stock companies fell to OMR8.4 billion, recording weekly losses estimated at OMR267.9 million and the bond and sukuk market maintained its previous level at OMR4.4 billion.
Oman Qatari Insurance shares recorded the highest increase, rising by 10 percent and closing at 187 baisas, Oman Chlorine shares rose by 9.8 percent and closed at 534 baisas, and Al Madina Investment shares rose by 7.6 percent and closed at 42 baisas.
On the other hand, Dhofar Poultry shares recorded the highest losses, falling by 88.9 percent and closing at 50 baisas, Salalah Mills shares fell by 10 percent and closing at 585 baisas, and National Industrial Detergents shares fell by 9.8 percent and closed at 483 baisas.
However, the main index of the Muscat Stock Exchange declined last week by 104 points after three weeks of rising and closed at the end of Thursday’s trading at 4,681 points, recording a decline of about 2.2 percent.
These declines came in conjunction with the decline witnessed by most regional and global stock exchanges after the increase in the pace of the Israeli aggression on Gaza. Many experts believe that the Israeli aggression has deepened concerns about the global economy, which is suffering from the effects of the war between Russia and Ukraine and fears related to the slowdown in the Chinese economy.
Last week, most of the companies listed on the Muscat Stock Exchange completed their financial results for the first nine months of this year, which showed improvement in a number of sectors, most notably banks and financial companies. However, these results were not reflected in the performance of the stock exchange, which recorded a decline in many of its indicators.
In addition to a decline of the main index and sectoral indicators recorded a decline in 46 securities, compared to 12 securities whose prices rose, and 12 other securities that stabilised at their previous levels. The number of transactions executed fell by 14.5 percent from 2,211 transactions to 1,890 transactions, and the value of traded shares declined from OMR11.6 million.
