MSX records best trading value in October

Business Saturday 04/November/2023 18:17 PM
MSX records best trading value in October

Muscat: The Muscat Stock Exchange (MSX) recorded the best trading value during October in the current year at OMR161.9 million, benefiting from the listing of OQ Gas Networks (OQGN) Company and the increase in the trading value of Bank Muscat shares following Dubai Financial Group selling part of its stake in the bank.

The trading value of OQ Gas Networks shares, which were listed on the Muscat Stock Exchange last October 24, amounted to OMR61.8 million, representing 38.1 percent of the total trading value, while Bank Muscat recorded 31.8 percent of the total trading value after the value of its traded shares reached OMR51.4 million.

OQ Gas Networks led the Muscat Stock Exchange to record numbers in trading volume and transactions executed. Last month, the MSX witnessed the trading of 749.6 million securities, which is the highest monthly level of securities traded on the stock exchange during the current year, and OQ Gas Networks recorded 54 percent of the total number of securities.

Traded transactions also recorded a new record level, rising to 31,056 deals, compared to 29,315 deals executed in March, when Abraaj Energy Services was listed on the stock exchange. The number of transactions executed on OQ Gas Networks shares reached 22,362 deals, with the stock acquiring 72 percent of the shares. The total number of transactions executed, and the stock closed at the end of last month at 150 baisas, up 10 baisas from the listing price of 140 baisas and 24 baisas above the subscription price for the individual category of 126 baisas.

OQ Gas Networks also pushed the market capitalisation of securities listed on the MSX to rise at the end of last month to OMR23.71 billion, recording gains of OMR204.3 million compared to its level at the end of September of OMR23.51 billion.

Last month, the Muscat Stock Exchange was subjected to a number of pressures that affected stock prices, the main index, and sectoral indices. The main index of the stock exchange declined by 132 points and closed at 4,545 points, the financial sector index recorded the highest decline at 238 points, the industrial sector index declined by 218 points and the Muscat Stock Exchange index fell. The services sector lost 38 points, and the Sharia index lost 29 points.