MSX trading value tops OMR23bn in weekly trade

Muscat: The market value of the securities listed on the Muscat Stock Exchange rose at the end of last week to OMR23.50 billion, recording weekly gains of more than OMR15 million.

This rise came in conjunction with the rise in share prices of a number of companies listed on the stock exchange and investors' appetite to buy shares of companies that will begin, in the coming days, to approve the dividends announced in the past weeks, amid positive financial results.

Last week, the prices of 23 securities rose, compared to 23 other securities whose prices declined, and 20 securities remained unchanged at their previous levels. The stock exchange's sectoral indices were supported by a number of leading companies. This prompted the services sector index to rise by more than 34 points, the financial sector index by 17 points, the industrial sector index fell by 58 points and the Sharia index fell by 3 points. The main index of the stock exchange also lost 3 points and closed at 4,650 points despite rising during the week to above 4,660 points.

Last week also witnessed 4 trading days, the trading value decreased to OMR9.73 million, compared to OMR11.60 million in the previous week, and the number of transactions executed increased from 1,342 to 1,355.

Trading during the week was mainly focused on Omantel shares, which witnessed transactions of about OMR 2.3 million, accounting for 25.3 per cent of the total trading value. Bank Muscat came next at OMR1.96 million and Ooredoo achieved transactions amounting to OMR964,000.

The shares of Al-Maha Petroleum Products Marketing came at the forefront of the gainers, up by 15.7 per cent, and closed at OMR1.650, the shares of Musandam Energy rose by 9.8 per cent and closed at OMR0.314 and the share of Oman United Insurance rose by 9.7 per cent and closed at OMR0.304.
Al-Anwar Ceramic Tiles topped the losing stocks, down by 8.8 per cent and closed at OMR0.310, Omani Finance bond by 8.2 per cent to close at 78 baisas and Al-Sawadi Energy declined by 5.8 per cent and closed at 32 baisas.