Muscat Stock Exchange index reaches 4700 points
Published: 05:07 PM,Jul 13,2024 | EDITED : 09:07 PM,Jul 13,2024
Muscat Stock Exchange index reaches 4700 points
MUSCAT: The Muscat Stock Exchange's (MSX) main index rose to 4700 points last week, gaining 11 points as investors reacted to preliminary half-year financial results from listed companies. Sembcorp Salalah's profits increased to RO 11.4 million, up from RO 10.5 million last year, while Oman Cables Industry Company's net profits rose to RO 11 million from RO 9.4 million. Phoenix Energy's profits grew from RO 10.1 million to RO 10.3 million, and Al Suwadi Power's profits increased from RO 6.9 million to RO 7.7 million.
The International Hotel Management Company reported a rise in net profits from RO 0.301 million to RO 0.498 million. The National Biscuit Manufacturing Company reversed losses of RO 0.018 million to post net profits of RO 0.070 million in the first quarter. Al Anwar Investments Company saw a decline in net profits to RO 0.679 million from RO 0.947 million, while Oman Refreshment Company recorded losses of RO 2.3 million, down from profits of RO 2.8 million last year.
Although banks and investment companies had yet to announce their preliminary results, the financial sector index rose by 28 points after four weeks of losses. The industrial and services sector indices fell by 46 and 5 points, respectively, while the Sharia index declined by 9 points.
The market value of securities on the stock exchange increased to RO 24.373 billion, with weekly gains of RO 21.9 million. This rise coincided with the listing of the Jabal Real Estate Investment Fund units, which have a capital of RO 17.4 million.
Last week saw cautious trading, with the number of transactions falling to 2,156, the lowest since April 8. The trading value also hit a yearly low of RO 7.6 million. The Pearl Real Estate Investment Fund topped trading values with RO 0.928 million, followed by Oman Cable Industry Company and Sohar International Bank with RO 0.882 million and RO 0.864 million, respectively.
Out of the traded securities, 21 rose in price, 35 declined, and 22 remained stable. Oman Mills stock saw the highest increase, rising by 6.9% to close at 460 baisas. Oman United Insurance stock rose by 4.2% to 245 baisas, and Building Materials Industry shares increased by 4% to 52 baisas.
In contrast, Al Batinah Development and Investment shares fell by 22.2% to 70 baisas, National Gas Company shares dropped by 15% to 102 baisas, and Shell Oman Marketing shares declined by 10.3% to 818 baisas. — ONA
The International Hotel Management Company reported a rise in net profits from RO 0.301 million to RO 0.498 million. The National Biscuit Manufacturing Company reversed losses of RO 0.018 million to post net profits of RO 0.070 million in the first quarter. Al Anwar Investments Company saw a decline in net profits to RO 0.679 million from RO 0.947 million, while Oman Refreshment Company recorded losses of RO 2.3 million, down from profits of RO 2.8 million last year.
Although banks and investment companies had yet to announce their preliminary results, the financial sector index rose by 28 points after four weeks of losses. The industrial and services sector indices fell by 46 and 5 points, respectively, while the Sharia index declined by 9 points.
The market value of securities on the stock exchange increased to RO 24.373 billion, with weekly gains of RO 21.9 million. This rise coincided with the listing of the Jabal Real Estate Investment Fund units, which have a capital of RO 17.4 million.
Last week saw cautious trading, with the number of transactions falling to 2,156, the lowest since April 8. The trading value also hit a yearly low of RO 7.6 million. The Pearl Real Estate Investment Fund topped trading values with RO 0.928 million, followed by Oman Cable Industry Company and Sohar International Bank with RO 0.882 million and RO 0.864 million, respectively.
Out of the traded securities, 21 rose in price, 35 declined, and 22 remained stable. Oman Mills stock saw the highest increase, rising by 6.9% to close at 460 baisas. Oman United Insurance stock rose by 4.2% to 245 baisas, and Building Materials Industry shares increased by 4% to 52 baisas.
In contrast, Al Batinah Development and Investment shares fell by 22.2% to 70 baisas, National Gas Company shares dropped by 15% to 102 baisas, and Shell Oman Marketing shares declined by 10.3% to 818 baisas. — ONA