MSX index falls 163 points in weekly trading

The Muscat Stock Exchange's main index experienced a notable decline, shedding 163 points to finish the weekly trading session at 7,480 points. The downturn was attributed to pressures stemming from escalating geopolitical tensions within the region.

All major sectoral indices recorded collective losses. The industrial sector index saw the steepest drop, losing 178 points. The financial sector index followed, falling by approximately 145 points, while the services sector index decreased by 84 points, and the Sharia index was down 15 points.

Despite these declines, publicly listed companies on the exchange announced preliminary financial results for the first half of the year, indicating profit growth and overall improved performance. However, these positive results did not significantly boost share prices, as investors appeared hesitant, awaiting further market incentives and a more stable geopolitical climate.

The week also saw a reduction in trading activity. Trading value fell from OMR247.8 million to OMR137.53 million. The number of executed transactions decreased by 28 percent, from 58,000 to 41,758. Market capitalization also contracted, recording weekly losses estimated at OMR244.3 million, closing at OMR38.48 billion.