MSX gains 72 points to close at 4,746
Published: 03:08 PM,Aug 31,2024 | EDITED : 07:08 PM,Aug 31,2024
MSX main index experienced a notable upswing last week, gaining approximately 72 points to close at 4,746.
MUSCAT (ONA) : The Muscat stock exchange (MSX) main index experienced a notable upswing last week, gaining approximately 72 points to close at 4,746. This surge marked a new upward trend following a series of declines in previous weeks.
The index benefited from the rise in shares of several leading companies, coupled with improved trading volumes and values. The weekly executed deals exceeded 4,000 for the first time in eight weeks, fostering a positive sentiment among traders. Consequently, 35 securities saw their prices rise, while 18 declined, and 26 remained unchanged.
Last week marked one of the best trading weeks in the third quarter of the year, with all sectoral indices registering collective gains. The financial sector index increased by 123 points, the industrial sector index rose by 9 points, and the services sector index climbed by 4 points. The Sharia index also reached 444 points, recording a weekly increase of 2 points.
The market capitalization of the MSX gained RO 137.8 million last week, reaching RO 24.558.9 billion by the end of Thursday's trading, marking an all-time high for the MSX's market capitalization.
Trading volume last week increased to 98.2 million shares compared to 50.7 million shares in the previous week. The trading value also surged by 65 per cent, from RO 9.5 million to approximately RO 15.8 million, while the number of executed transactions rose from 2,639 to 4,115.
Last week's trading data revealed a tendency among individual investors to sell as share prices improved, allowing them to accumulate liquidity for upcoming subscriptions and to build new portfolios. Individual investors' sales accounted for 31.6 per cent of the total trading value, while their purchases represented 25.4 per cent of the trades.
Several shares witnessed significant price improvements last week, most notably OQ Gas Networks, which jumped to 148 baisas after remaining at 141 baisas for several weeks. The share saw 1,069 transactions executed last week.
Shares of energy, finance, and telecommunications companies also experienced growth. Bank Muscat closed with modest gains, except for Bank Sohar International, which increased by 8.2 per cent to close at 144 baisas.
Musandam Power Company recorded the highest increase, rising by 23.7 per cent to close at 313 baisas. Oman Finance Company's shares climbed to 166 baisas, representing a 9.9 per cent increase. Shell Oman Marketing's shares rose by 8.1 per cent to close at 800 baisas. National Finance Company's shares increased by 7.1 per cent to close at 150 baisas.
On the other hand, National Gas Company recorded the highest decline, falling by 14.2 per cent to close at 90 baisas. Oman Chlorine's shares dropped to 440 baisas, representing an 8.1 per cent decline. Oman Fish's shares decreased to 37 baisas, marking a 7.5 per cent decline. Majan College's shares fell to 101 baisas, with a 5.6 per cent decrease. Saffa Foods' shares declined by 3.3 per cent to close at 380 baisas.
Bank Sohar International topped the list of most actively traded companies by value, with trades worth RO 2.713 million, accounting for 17.1 per cent of the total trading value. OQ Gas Networks ranked second with trades worth RO 2.438 million, followed by Bank Muscat with trades worth RO 2.129 million. Galfar Engineering and Contracting came in fourth with trades of approximately RO 1.2 million Omani rials, while Oman International Development and Investment Company (Ominvest) ranked fifth with trades worth RO 955k, representing 6 per cent of the total trading value.
The index benefited from the rise in shares of several leading companies, coupled with improved trading volumes and values. The weekly executed deals exceeded 4,000 for the first time in eight weeks, fostering a positive sentiment among traders. Consequently, 35 securities saw their prices rise, while 18 declined, and 26 remained unchanged.
Last week marked one of the best trading weeks in the third quarter of the year, with all sectoral indices registering collective gains. The financial sector index increased by 123 points, the industrial sector index rose by 9 points, and the services sector index climbed by 4 points. The Sharia index also reached 444 points, recording a weekly increase of 2 points.
The market capitalization of the MSX gained RO 137.8 million last week, reaching RO 24.558.9 billion by the end of Thursday's trading, marking an all-time high for the MSX's market capitalization.
Trading volume last week increased to 98.2 million shares compared to 50.7 million shares in the previous week. The trading value also surged by 65 per cent, from RO 9.5 million to approximately RO 15.8 million, while the number of executed transactions rose from 2,639 to 4,115.
Last week's trading data revealed a tendency among individual investors to sell as share prices improved, allowing them to accumulate liquidity for upcoming subscriptions and to build new portfolios. Individual investors' sales accounted for 31.6 per cent of the total trading value, while their purchases represented 25.4 per cent of the trades.
Several shares witnessed significant price improvements last week, most notably OQ Gas Networks, which jumped to 148 baisas after remaining at 141 baisas for several weeks. The share saw 1,069 transactions executed last week.
Shares of energy, finance, and telecommunications companies also experienced growth. Bank Muscat closed with modest gains, except for Bank Sohar International, which increased by 8.2 per cent to close at 144 baisas.
Musandam Power Company recorded the highest increase, rising by 23.7 per cent to close at 313 baisas. Oman Finance Company's shares climbed to 166 baisas, representing a 9.9 per cent increase. Shell Oman Marketing's shares rose by 8.1 per cent to close at 800 baisas. National Finance Company's shares increased by 7.1 per cent to close at 150 baisas.
On the other hand, National Gas Company recorded the highest decline, falling by 14.2 per cent to close at 90 baisas. Oman Chlorine's shares dropped to 440 baisas, representing an 8.1 per cent decline. Oman Fish's shares decreased to 37 baisas, marking a 7.5 per cent decline. Majan College's shares fell to 101 baisas, with a 5.6 per cent decrease. Saffa Foods' shares declined by 3.3 per cent to close at 380 baisas.
Bank Sohar International topped the list of most actively traded companies by value, with trades worth RO 2.713 million, accounting for 17.1 per cent of the total trading value. OQ Gas Networks ranked second with trades worth RO 2.438 million, followed by Bank Muscat with trades worth RO 2.129 million. Galfar Engineering and Contracting came in fourth with trades of approximately RO 1.2 million Omani rials, while Oman International Development and Investment Company (Ominvest) ranked fifth with trades worth RO 955k, representing 6 per cent of the total trading value.