MSX index sees growth of 3.1% in monthly trading

MSX index sees growth of 3.1% in monthly trading

Muscat: The MSX 30 index witnessed a monthly growth of 3.1 percent during June-2023 to close the month at 4,768.22 points recording three consecutive months of gains, according to a new report. “In terms of sector performance, two out of three sector indices recorded gains during June-2023,” the Kuwait-based Kamco Invest said in its latest GCC stock market report for June 2023. The Financial Sector Index, which recorded the biggest monthly fall of 4.9 percent during May-2023 recovered and witnessed the biggest monthly gain among the indices with 3.6 percent growth closing the month at 7,830.13 points. The growth was primarily driven by the significant share price growth of certain companies such as Dhofar International Development and Investment Holding (+43.9 percent), National Finance Co (+11.1 percent) and Ahli Bank (+6.7 percent). The Industrial Index followed, recording a gain of 2.6 percent during June-2023 while the Services Index registered a marginal decline of 0.4 percent during the month to close the month at 1,695.3 points. Significant share price declines of companies like Arabia Falcon Insurance (-9.1 percent), Majan College (-8.7 percent) and Oman Oil Marketing Co (-14.2 percent) contributed to the overall decline of indices’ monthly drop. In terms of company