Tuesday 14 / May / 2024
Muscat: The Muscat Stock Exchange (MSX) recorded a number of positive results in January 2024. The trading value of MSX increased by 9.6 percent from its level in December 2023, and the main index recorded an increase of more than one percent, while the number of transactions executed and the market value of public joint-stock companies listed on the stock exchange increased.
Trading data issued by the MSX indicated that the trading value rose in January to about OMR90.1 million, compared to OMR82.1 million in December 2023. The number of transactions executed in January 2024 increased to 21,265 deals, compared to 16,683 deals in December 2023.
OQ Gas Networks (OQGN) shares accounted for about 20 percent of the total trading value, with transactions worth OMR17.7 million. The company distributed cash dividends of 7.6 baisas per share, and the sixth issuance of sovereign Sukuk witnessed trades worth OMR10.7 million.
While Bank Muscat shares witnessed trades worth OMR9.4 million, representing 10.4 percent of the total trading value, Omantel ranked among the most traded companies in terms of trading value with OMR9.1 million and the third issuance of sovereign Sukuk came in next with trades worth OMR9.1 million.
The market value of public joint stock companies rose at the end of January reached OMR9.70 billion compared to OMR8.96 billion at the end of December 2023, recording gains of OMR40 million. However, the total market value of securities listed on the Muscat Stock Exchange declined at the end of January to OMR23.78 billion, recording losses of OMR13.4 million compared to their level in December 2023. The market value of the sukuk market declined by OMR152 million reaching OMR4.27 billion at the end of January 2024. The market value of closed companies recorded gains of about OMR100 million rising to OMR10.5 billion at the end of January 2024.
The MSX in January witnessed an increase in the prices of 35 securities, compared to 40 securities whose prices declined, and 21 securities that stabilised at their previous levels. Oman Investment and Finance stock recorded the best rise, rising by 26.7 percent and closing at 90 baisas, and Al Hassan Engineering stock rose by 25 percent and closed at 10 baisas. Dhofar Food and Investment shares rose to 58 baisas, up 23.4 percent.
Dhofar Insurance's stock topped the losing stocks, declining by 15.6 percent and closing at 210 baisas, Oman Arab Bank's stock fell by 14.4 percent and closing at 120 baisas, and Muscat Finance's stock fell to 45 baisas, recording a decline of 13.4 percent.
