MSX index surpasses 4,800 points
Published: 02:10 PM,Oct 19,2024 | EDITED : 06:10 PM,Oct 19,2024
Market capitalisation rose to RO 24.736 billion, with weekly gains of RO 134 million.
MUSCAT: The Muscat Stock Exchange (MSX) broke past the 4,800-point mark last week, fueled by increased investment demand and local institutions expanding their portfolios. The main index reached 4,813 points, its highest level since June 3, before closing the week at 4,800 points, up by 49 points. The financial sector led gains, rising 98 points, while the services sector rose 25 points. However, the industrial sector dropped 59 points, weighed down by declines in major firms like Galfar Engineering, Al Maha Ceramics, Al Anwar Ceramic Tiles, and Al Safa Foods. The Sharia index also slipped two points to 434.
Market capitalisation rose to RO 24.736 billion, with weekly gains of RO 134 million. Trading activity surged, with total trading value climbing 46% to RO 17.2 million, and the number of deals increasing by 20% to 3,439.
Oman Arab Bank’s perpetual bonds were the most traded security, accounting for 29% of total value at RO 5 million. Bank Muscat followed with RO 2.7 million, while OQ Gas Networks saw trades worth RO 1.47 million.
Among the top gainers, Voltamp Energy rose 17.1%, closing at 410 baisas, while Muscat Thread Factories increased 14%, closing at 146 baisas. Oman Education and Training Investments grew 9.9%, closing at 598 baisas. On the losing end, Galfar Engineering dropped 15.4%, ending at 104 baisas, and Al Anwar Ceramic Tiles fell 9.6% to 140 baisas.
Oman Flour Mills announced a 50-year usufruct agreement with Omran Group for land at Sultan Qaboos Port and Mina District to expand its silos and warehouse facilities. Salalah Mills' capital increase and International Gas Services' transition to a closed Omani joint-stock company were also listed on the MSX last week. — ONA
Market capitalisation rose to RO 24.736 billion, with weekly gains of RO 134 million. Trading activity surged, with total trading value climbing 46% to RO 17.2 million, and the number of deals increasing by 20% to 3,439.
Oman Arab Bank’s perpetual bonds were the most traded security, accounting for 29% of total value at RO 5 million. Bank Muscat followed with RO 2.7 million, while OQ Gas Networks saw trades worth RO 1.47 million.
Among the top gainers, Voltamp Energy rose 17.1%, closing at 410 baisas, while Muscat Thread Factories increased 14%, closing at 146 baisas. Oman Education and Training Investments grew 9.9%, closing at 598 baisas. On the losing end, Galfar Engineering dropped 15.4%, ending at 104 baisas, and Al Anwar Ceramic Tiles fell 9.6% to 140 baisas.
Oman Flour Mills announced a 50-year usufruct agreement with Omran Group for land at Sultan Qaboos Port and Mina District to expand its silos and warehouse facilities. Salalah Mills' capital increase and International Gas Services' transition to a closed Omani joint-stock company were also listed on the MSX last week. — ONA