Muscat Stock Exchange edges closer to the 4700-point mark

  • Date: 13-Apr-2024
  • Source: The Arabian Stories News
  • Sector:Financial Markets
  • Country:Oman
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Muscat Stock Exchange edges closer to the 4700-point mark

Last week, the Muscat Stock Exchange's main index climbed by 16 points, edging close to the 4,700-point threshold.

The post Muscat Stock Exchange edges closer to the 4700-point mark appeared first on The Arabian Stories News.Muscat: The Muscat Stock Exchange’s main index concluded last week’s trading at 4,696 points, inching towards the significant 4,700-point milestone. This ascent follows a period of intense activity during the annual general assembly meetings.

Sector-wise, the industrial sector index surged by 176 points, the services sector index saw a 15-point increase, and the Sharia index marked a 7-point rise. Trading will resume this week with expectations high as most public joint stock companies prepare to unveil their preliminary financial results for the first quarter of the year. Notably, Al Anwar Investments is set to disclose its fiscal year’s financial results ending March 31.

Several companies have already disclosed their first-quarter financial results, showcasing overall improved performance with increased profits or reduced losses. Oman Cables Industry Company reported a rise in profits to approximately RO 5.5 million from RO 4.4 million in the same period last year. Similarly, the International Hotel Management Company and Gulf Mushroom Production Company saw profit increases.

Conversely, some companies like Dhofar Tourism Company, Al Suwadi