Thursday 20 / March / 2025
Muscat: The market capitalisation (cap) of securities traded during the week on Muscat Stock Exchange (MSX) week recorded losses of OMR95 million and fell to OMR24.38 billion.
The week's trading was characterised by caution by investors after the rises recorded by stocks in the past weeks and it is expected that the state of caution among individual investors will continue during the coming period, awaiting any positive expectations regarding the financial results for the first half of the current year, which will be announced after about 5 weeks.
Trading data issued by the Muscat Stock Exchange showed that local individual investors tended to sell during the week, with their sales accounting for 28.1 percent of the total trading value, compared to purchases accounting for 25.6 percent of the total trading.
The trading value, which declined last week to OMR14.3 million, compared to OMR30.3 million in the previous week, reflected the state of caution among investors. Last week witnessed a 23 percent decline in the number of deals executed, which fell from 4,066 deals to 3,118 deals.
In last week's trading, investors focused on the shares of Bank Muscat, Galfar Engineering and Contracting, and Voltamp Energy, which came at the top of the most traded companies in terms of trading value. Bank Muscat shares witnessed trades worth OMR2.7 million, representing 18.8 percent of the total trading value. Galfar Engineering and Contracting, saw trades worth about OMR2.3 million, representing 15.9 percent of the total trading value, while Voltamp Energy shares witnessed trading worth OMR1.9 million, representing 13.4 percent of the total trading value. Oman Cables Industry saw trade value at OMR1.4 million, while the following Sohar International Bank saw trading value worth OMR1.1 million.
In corporate news, the National Biscuit Manufacturing Company invited its shareholders to attend the annual ordinary general assembly meeting to be held on June 24, during which the company’s financial reports will be studied, in addition to discussing a proposal to distribute cash dividends to shareholders in the amount of 250 baisas per share for the financial year ending on March 31. During the meeting, a new Board of Directors will be elected.
Al Anwar Investments Company also invited its shareholders to attend the annual ordinary general assembly meeting, which will be held on June 26, and will discuss the distribution of cash dividends of 5 percent, i.e. 5 baisas per share, and the distribution of bonus shares of 3 percent, i.e. 3 shares, for every share owned by the shareholder on the date of the assembly’s approval of this proposal.
This June also witnesses a meeting of the annual ordinary general assembly of Al Madina Investment Holding Company, which will be held on June 27, during which reports on the company’s activity and financial position in the fiscal year ending on March 31 will be studied. The company is preparing to transform from a public joint stock company to a closed joint stock company. However, it said last week that the extraordinary general assembly meeting dedicated to discussing the proposal to convert from a public joint stock company to a closed joint stock company will be postponed until the rest of the relevant procedures are completed.
The main index of the Muscat Stock Exchange declined last week by 74 points after a series of increases over a period of 3 weeks that led it to record its best level in 14 months.
The index ended last week's trading at 4,771 points after it failed to gain support from banks, energy companies, and financial companies, with the prices of 35 securities declining, compared to 15 securities whose prices rose, and 28 securities stabilising at their previous levels.
The financial sector index recorded the highest losses, declining by 141 points, and the services sector index fell by about 13 points, while the industrial sector index was able to rise by 19 points as a result of the gains recorded by the shares of Oman Cables Industry, Voltamp Energy, Galfar Engineering and Contracting, and a number of stocks included in the sector index sample. The Sharia index rose by about 3 points.
Banking shares ended last week's trading with losses after the rise they recorded in the past weeks. The National Bank of Oman (NBO) share recorded the highest losses in the banking sector, declining by 6.1 percent and closing at 154 baisas. Bank Dhofar's stock declined by 2.5 percent and closed at 153 baisas, and Bank Muscat's share declined. by 2.3 percent and closed at 253 baisas, while other banks recorded smaller declines.
During the week, the Muscat Stock Exchange was also affected by the decline in the shares of energy companies such as Al Suwadi Power and Al Batinah Power with the due date for cash dividends on June 2. Al Batinah Power’s stock fell by 5.2 percent and closed at 72 baisas, and Al Suwadi Power’s stock fell by 5 percent and closed at 75 baisas. Shares of Sembcorp Salalah, Barka Water and Power, and Barka Water Desalination also declined.
