MSX index rises marginally in weekly trading

Business Saturday 05/August/2023 19:00 PM
MSX index rises marginally in weekly trading

Muscat: The industrial sector recorded the best performance among the indices of the Muscat Stock Exchange in last week's trading.

The industrial sector index rose during the week's trading to the level of 6,170 points, recording its best level in 3 weeks, but it was unable to maintain these gains and ended the trading at 6,150 points, recording a weekly increase of 58 points.

This rise came in conjunction with the Sultanate of Oman's ranking 56th in the world and fifth in the Arab world in the Competitive Industrial Performance Report for the year 2023 issued by the United Nations Industrial Development Organisation (UNIDO), which indicated that the Sultanate of Oman had achieved an improvement in diversifying industrial activities from the added value of the industrial sector. Increasing the volume of industrial exports from the volume of global industrial exports.

The past week also witnessed a good performance for the financial sector index, which rose by 48 points and closed at 7,867 points.

The benchmark main index rose by three points and closed at 4,783 points, while the services sector index declined by 6 points, and the Sharia index recorded a decline of two points.

Last week witnessed an increase in the shares of Voltamp Energy and National Gas, Oman Cables Industry, Al-Saffa Foods, Raysut Cement, Building Materials Industry, Oman Mills and Oman Cement. These increases stimulated investors to buy shares of industrial companies.

Trading value increased last week by 61 percent, exceeding OMR15.1 million, compared to transactions amounting to OMR9.3 million in the previous week. However, the number of deals executed declined by 6.6 percent from 2,015 deals to 1,881 deals.

Last week, the Muscat Stock Exchange recorded gains in its market value by OMR36.70 million to rise at the end of Thursday’s trading to OMR23.91 billion.