MSX index begins 2023 with limited increase

MSX index begins 2023 with limited increase

Muscat: The benchmark main Muscat Stock Exchange (MSX) index rose last week by 10 points, beginning the trading year 2023, with a limited rise, amid pressure from the leading stocks that were unable to support the index, except for the varying rises recorded by the shares of Al Jazeera Services, Omantel, Ooredoo, Bank Muscat, Sohar International Bank and Muscat Finance included in the indicator sample.

The index ended the trading of the first week of 2023 at 4,868 points, although it rose last Sunday above the level of 4,870 points, it quickly abandoned this level the next day and returned to rise again on Tuesday, but it quickly declined on Wednesday to fall below the level of 4,850 points, then it rose again on Thursday, taking advantage of the rises recorded by the shares of banks and a number of other companies.

Last week’s trading was characterised by extreme caution by investors after the decline in oil prices at the beginning of the week below the level of $80 per barrel, amid fears of a decline in global demand and the return of the spread of COVID-19 in China and its transmission to other countries of the world, and the price of