Saturday 02 / August / 2025
Muscat: The shares of energy, oil and telecommunications companies listed on the Muscat Stock Exchange (MSX), which rose last week, pushed the service sector index to rise, at a time when the main index of the stock exchange and other sectoral indices declined.
During the past two weeks, the public joint-stock companies listed on the Muscat Stock Exchange announced their initial financial results, which indicated an improvement in results. However, investors are still waiting for the companies' boards of directors to approve the financial results and announce the dividends that will be discussed by the annual general assemblies that will be held next March.
Last week, the shares of Phoenix Energy, Sembcorp Salalah, Muscat Desalination City, Al Maha for Marketing Petroleum Products and Omantel rose, prompting the services sector index to rise 24 points, concluding last week’s trading at 1,635 points, while the main index of the Stock Exchange declined by about 81 points and closed at 4,798 points, recording the first decline during the year. The current trend after its rise in the past two weeks by 10 points and 11 points, respectively, the industrial sector index recorded the highest decline at 305 points, the financial sector index declined by 154 points, and the Sharia index lost 11 points.
The trading value increased last week to about OMR15.1 million, compared to OMR8.5 million in the previous week, recording a rise of 77 per cent. The number of deals executed increased to 2,530 compared to 1,383 in the week ending on January 11, and the market value of the listed securities declined. On the Muscat Stock Exchange at the end of last week, it reached OMR23.66 billion, recording weekly losses of OMR94.5 million.
Bank Muscat topped the most heavily traded companies after witnessing transactions worth OMR3,627,000, representing 24 per cent of the total trading value. Al-Barwani Sukuk in Omani riyals came in second place, with transactions amounting to OMR2,211,000, followed by Al-Nahda Services, which witnessed transactions worth OMR1.55 million, representing 10.2 per cent of the total trading value.
The prices of 24 companies increased compared to 41 companies whose prices declined, and 13 companies stabilised at their previous levels last week. SMN Power Holding recorded the highest increase, up by 13 per cent, and closed at 52 baisas, and the Phoenix Energy share rose by 11.3 per cent, closing at 49 baisas while Sembcorp Salalah shares rose to 71 baisas, up by 10.9 per cent.
The share of Al-Anwar Ceramic Tiles came at the forefront of the losing shares, down by 17.4 per cent and closed at 340 baisas. The share of the National Aluminium Products Company fell to 66 baisas, down by 14.2 per cent. The share of Takaful Oman Insurance fell by 12.5 per cent and closed at 42 baisas. The share of Muscat Gases also declined in the same way ratio and ended its trading at 105 baisas.
Among the companies' news, the Board of Directors of the Port Services Corporation, under liquidation, called on the company's shareholders to attend the extraordinary general assembly meeting scheduled to be held on January 31, during which the legal liquidator's report containing the financial account for the year ending on December 31, 2022, will be presented and studied. A second payment from the liquidation proceeds after settling all claims owed by the company that managed Sultan Qaboos Port. The value of the second payment is 45 baisa per share.
