Muscat Stock Exchange market cap rises to OMR38.3 billion

The Muscat Stock Exchange (MSX) experienced a significant boost, with its total market capitalization climbing to OMR38.3 billion by the end of the trading week. This represents a substantial weekly gain of more than OMR1.458 billion.

The exchange's performance was bolstered by the recent listing of the Oman India Fertiliser Company (Omifco) on July 8. This event, coupled with the release of preliminary financial results for the first half of the year, contributed to an optimistic market atmosphere. Several companies' shares saw notable increases.

MSX indices recorded broad gains. The main index closed at 7,644 points, up 69 points. The industrial sector index advanced by 107 points, the services sector by 26 points, the financial sector by 14 points, and the Sharia index by 9 points. This upward trend reflects increased trading activity and investor confidence.

Omifco shares were particularly active, with institutional purchases from local and Gulf investment funds driving the stock's value. The company's market capitalization reached OMR1.29 billion, positioning it as the fourth-largest public shareholding company on the exchange. Trading value remained stable at OMR247.8 million, while the number of transactions increased by over 21 percent.