Foreign investors raise their purchases on MSX

Foreign investors raise their purchases on MSX

Muscat: Foreign investors raised their purchases on the Muscat Stock Exchange (MSX), taking advantage of the decline in stock prices, less than two weeks before the end of the fiscal year.

The total value of foreign purchases on the MSX in the week amounted to OMR2.4 million, accounting for about 23 percent of the total trading value witnessed in the Muscat bourse. Foreign investors targeted companies with low prices and high returns.

On the other hand, Gulf investors tended to sell, and their sales amounted to OMR1.8 million, constituting 17.8 percent of the total trading value.

Statistical data issued by the Muscat Stock Exchange indicated a decline in the main index and sectoral indices that lacked support from leading companies, with investors focusing on OQ Gas Networks shares and Bank Muscat’s first-class perpetual bonds, which together accounted for about 75 percent of the total trading value last week.

The total value of trading in the week amounted to OMR10.4 million, registering a decline of 48 percent from its level a week ago, which amounted to OMR20.2 million. The current week’s trading was limited to three trading days, as the stock exchange was closed on Sunday and Monday for an official holiday. The number of