Monday 27 / January / 2025
Muscat: Industrial companies listed on the Muscat Stock Exchange (MSX) registered positive performance during the week compared rising by 55 points among the bourse indices.
The main index declined by about 18 points and closed at 4,603 points. While the financial sector index declined by 32 points, services sector index fell by 24 points, and the Sharia index declined by 8 points.
The industrial companies listed on the MSX were able to report gains despite a wave of decline witnessed by the Muscat Stock Exchange in the week, with 37 securities falling compared to 21 securities rising during the week.
The building materials industry share recorded the best rise among the industrial companies listed in the sample of the industrial sector index, rising by 36 percent and closing at 67 baisas. Al Anwar Ceramic Tiles share rose by 10 percent and closed at 107 baisas. Gulf Engineering and Contracting share rose by 6.7 percent and closed at 79 baisas. Gulf Mushroom Production share rose by 2.5 percent and closed at 245 baisas while Al Maha Ceramics share recorded a rise of 2.3 percent and closed at 130 baisas. The declines recorded by stocks during the week were reflected in the market value of the Muscat Stock Exchange, which fell at the end of Thursday’s trading to OMR27.80 billion, recording weekly losses of about OMR290 million.
During the week, the Muscat Stock Exchange witnessed an increase in the number of transactions executed which rose to 4,898 compared to 4,289 transactions in the previous week, while trading value remained at its previous level of OMR16.9 million.
OQ Exploration and Production topped the most traded companies in terms of trading value, after witnessing trading worth OMR3.88 million, representing 18.1 percent of the total trading value. Bank Muscat came next at OMR2.5 million, OQ Basic Industries witnessed trades worth OMR2.2 million, representing 13 percent of the total trading value.
The building materials sector, Majan Glass, Oman Finance Free Bonds, Issue 68 of Government Development Bonds, and Al Anwar Ceramic Tiles were the top gainers, while Oman Chrome led the losing stocks, declining by 14.8 percent and closing at OMR3.150. Oman Investment and Finance declined by 11.5 percent and closed at 84 baisas, and Salalah Port Services witnessed a decline of 10 percent and closed at 252 baisas.
