Saturday 05 / October / 2024
Muscat: The market value of the Muscat Stock Exchange (MSX) rose at the end of the week’s trading to OMR24.35 billion, recording weekly gains of more than OMR108.5 million, benefiting from the rise in stock prices.
The prices of 30 securities rose during the week, compared to 25 securities whose prices declined, and 19 securities that stabilised at their previous levels.
The increases were concentrated in the services and industry sectors, while banks and investment companies recorded a volatile performance. The industry sector index recorded the highest increase, rising 65 points, the services sector index rose by 24 points, the Sharia index rose by 4 points, while the financial sector index fell 83 points. The main index of the stock exchange recorded a slight increase of one point and closed at 4,688 points.
Muscat Stock Exchange witnessed exceptional trading during the week, with the trading value rising to OMR110.5 million compared to OMR10.6 million in the previous week, recording an increase of more than 940 percent.
Abraj Energy Services stock, after the news of executing a special deal, witnessed trading worth OMR100.5 million, representing 90.8 percent of the total trading value. OQ Gas Networks witnessed trading worth OMR1.5 million, while Bank Sohar International came in third with OMR1.3 million, while Oman Cables Industry Company came in fourth place with OMR885,000 and Bank Muscat came in fifth with trading worth OMR861,000.
Despite the interest that many stocks received during the week’s trading, the number of executed deals declined to 3,804 deals, recording a decline of 12.9 percent from its level a week ago, which amounted to 4,370 deals.
Barka Water and Power Company recorded the highest increase by 22.1 percent and closed at 309 baisas, Shell Oman Marketing Company rose by 9.8 percent and closed at 912 baisas, Dhofar Beverages and Foodstuff Company rose by 9.6 percent and closed at 205 baisas, Muscat Gases Company rose by 8.5 percent and closed at 140 baisas, and Muscat City Desalination Company rose by 8.4 percent and closed at 77 baisas.
Oman Real Estate Fund units recorded the highest losses, declining by 14.6 percent and closing at 64 baisas. Oman United Insurance shares fell by 11.3 percent and closed at 235 baisas. Oman Fisheries shares fell to 45 baisas, recording a decline of 8.1 percent. Al Maha Petroleum Products Marketing shares fell by 6 percent and closed at 1 riyal and 20 baisas. Oman International Development and Investment Company (Ominvest) shares fell by 5.5 percent and closed at 340 baisas.
On July 1, the Muscat Stock Exchange began working with the new sample of the main index, sectoral indices, and total return indices. The new sample comes after the completion of the annual study of the indices. The main index sample includes 30 public joint-stock companies, including 11 companies from the financial sector, 13 companies from the services sector, and 6 companies from the industrial sector0. According to the new review, 5 companies have left the main index sample, namely Shell Oman Marketing, Gulf Mushroom Production, Al Jazeera Iron Products, Muscat Finance, and Al Maha Ceramics. Instead, they were joined by: OQ Gas Networks, Oman Cables Industry Company, Barka Water and Power, International Financial Investments, and Voltamp Energy.
The sample of sectoral indicators includes 45 companies distributed equally across the main sectors, namely the financial sector, the industrial sector, and the services sector, with 15 companies in each sector. The indicators move up and down according to the increases and decreases witnessed by the stocks included in the sample.
