Muscat – Saba:
The main index of the Muscat Stock Exchange (MSX) extended its gains last week, rising for the fourth consecutive week, buoyed by the preliminary financial results for the first half of the year announced by public joint-stock companies, which showed improved performance and higher net profits.
The main index closed Thursday’s trading session at 4,654 points, up 51 points for the week. The financial sector index rose by 5 points, while the services sector index gained 7 points. The Sharia-compliant index remained stable at its previous level of 449 points, whereas the industrial sector index declined by 70 points, affected by losses in several industrial companies such as Oman Flour Mills, Construction Materials Industry, Al Maha Ceramics, Voltamp Energy, and others.
Most public joint-stock companies listed on the MSX announced their preliminary financial results for the first half of the year over the past two weeks, positively impacting the exchange’s performance. Meanwhile, investment funds and companies continue to inject more liquidity into the market.
Trading data released by the MSX showed a 14% increase in executed transactions last week, reaching around 10,600 deals, compared to 9,290 deals the previous week. The MSX also maintained high trading values at approximately 82.4 million Omani riyals.
The market value of securities listed on the MSX rose by 206.7 million Omani riyals last week, reaching 28.643 billion Omani riyals by the end of Thursday’s session.
Investors last week focused on OQ Gas Networks, which saw trades worth 21.9 million Omani riyals, representing 26.5% of the total trading value. Asyad Shipping came in second with trades worth 15.1 million Omani riyals (18.3%), followed by Bank Muscat with 14.4 million Omani riyals (17.5%).
Last week, 42 securities saw price increases, while 29 declined, and 16 remained stable.
Muscat Insurance recorded the highest gains, rising 20.3% to close at 794 baisa. Oman Marketing & Services Co. (OMV) climbed 11.9% to 750 baisa, while Dhofar Food & Investment rose 11.2% to 79 baisa.
Oman Educational & Training Investments gained 10%, closing at 1.320 riyals, and Salalah Port Services advanced 8.3% to 260 baisa.
On the losing side, National Aluminium Products led the declines, dropping 15.8% to 85 baisa, followed by International Financial Investments, which fell 11.7% to 135 baisa. Al Madina Investment Holding declined 8.8% to 41 baisa, Oman Flour Mills dropped 7.6% to 469 baisa, and Construction Materials Industry slipped 7.3% to 63 baisa.
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