MSX Main Index Soars Past 4,930 Points: What This Means for Investors in Oman’s Financial Landscape
Muscat Stock Exchange Sees Notable Gains Amid Positive Corporate Disclosures
The Muscat Stock Exchange (MSX) experienced significant gains last week, driven by strong liquidity and positive corporate announcements that enhanced investor confidence. The benchmark index surged past 4,930 points, marking an increase of 80 points over the week.
Announcements of favorable financial results and forward-looking strategies from various companies contributed to the market’s upward momentum, a trend that has persisted in recent weeks. The services index rose by 82 points to close at 1,919, while the financial index added 32 points. Additionally, the Sharia-compliant index grew by 7 points، الوصول 477.
Conversely, the industrial index witnessed a decline, falling 39 points due to decreases in several major stocks, such as Oman Cables, Voltamp Energy, Al Jazeera Steel, Oman Flour Mills, Gulf International Chemicals, and OQ Basic Industries.
Market capitalization increased by RO 208.4 million, bringing the total to RO 29.61 billion at Thursday’s close, bolstered by rising share prices. Weekly trading activity was robust, with transactions reaching RO 121.2 million، زيادة قدرها 28 percent, resulting in over 13,700 trades. Bank Muscat led the turnover with RO 37.9 million، يمثل 31.3 percent of the total, followed by OQ Exploration and Production at RO 19.2 million and Sohar International Bank at RO 18.6 million، أو 15.4 percent of total trades.
Share performance was varied, with 32 securities advancing, 32 declining، و 23 remaining unchanged. Muscat Insurance recorded the largest gain, up 20.7 percent ل 855 baisas, followed by Sembcorp Salalah, which rose 16.1 percent ل 180 baisas, and SMN Power Holding, up 15.5 percent ل 231 baisas. On the downside, Gulf International Chemicals was the top loser, dropping 5.2 percent ل 72 baisas, while Salalah Mills fell 4.6 percent ل 410 baisas, and Dhofar International Development & Investment declined 3.3 بالمئة ل 290 baisas.
Corporate updates further fueled trading activity. OQ Exploration and Production announced interim and performance-linked dividends totaling 19.94 baisas per share, scheduled for payment in September and November, lifting its stock to 360 baisas. Omantel reported a first-half net profit of RO 161.1 million for the group and RO 35.1 million domestically, resulting in a share price increase of 77 baisas ل 975 baisas. Furthermore, Sohar International is seeking initial approval from the Central Bank to acquire 100 percent of digital insurer Bima. Bank Nizwa has approved a RO 60 million capital increase, while Oman Arab Bank has set the price of its rights issue at 151 baisas.
- ONA
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The recent gains in the بورصة مسقط highlight a positive investment climate, driven by robust liquidity and confident corporate disclosures. This presents فرص للمستثمرين to capitalize on emerging sectors, particularly in services and finance, while the mixed performance in industrials serves as a cautionary note for diversification. المستثمرون ورجال الأعمال الأذكياء should now assess companies with forward-looking strategies, especially those announcing strong profits or engaging in strategic acquisitions.
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