Muscat Stock Exchange trading value rises to OMR252.1 million

The Muscat Stock Exchange (MSX) experienced a notable increase in trading value, reaching OMR252.1 million for the week, a 2.4% rise from the previous week's OMR246.1 million. This growth reflects a heightened investor appetite for diversifying their portfolios, coinciding with anticipation of upcoming dividend distributions from several companies.

Overall trading activity saw a 2.2% increase, with executed transactions exceeding 42,000. The market capitalization of listed securities also grew, adding OMR140.3 million to reach OMR38.33 billion. The main index saw a modest gain, advancing 14 points to close at 7,522 points.

Sectoral performance was varied. The financial sector index recorded the most significant increase, rising 93 points to 13,248 points, largely supported by gains in banking and investment company shares. The services sector index also climbed 8 points, boosted by strong performances from companies like OQ Gas Networks and Al Jazeera Services. The Sharia-compliant index saw a smaller increase of 3 points.

In contrast, the industrial sector index experienced a decline of over 100 points. This downturn was attributed to losses in shares of several industrial companies, including Salalah Mills and Galfar Engineering and Contracting. Investors showed significant interest in blue-chip companies, with OQ Basic Industries, Bank Muscat, Sohar International, OQ Exploration and Production, and OQ Gas Networks being among the most actively traded by value.