Muscat Stock Exchange maintains momentum with incremental gains

Muscat Stock Exchange maintains momentum with incremental gains

The Muscat Stock Exchange persisted in its upward trajectory last week, extending the accumulated gains from previous weeks to culminate at 4,620 points, marking a marginal yet notable uptick of one point.

The post Muscat Stock Exchange maintains momentum with incremental gains appeared first on The Arabian Stories News.Muscat – Fueling the index surge were the buoyant performances of major enterprises, including Bank Muscat, Shell Oman Marketing, and several energy firms. However, the financial sector index experienced a setback due to a decline in shares of select banks and financial entities, resulting in a 9-point dip. Conversely, other sector indices flourished, with the services sector climbing by 19 points, the Sharia index by 4 points, and the industrial sector by 2 points. Trading during the week was truncated to three days due to the National Day holiday observed on Wednesday and Thursday. Despite the shortened week, the total trading value amounted to 13.7 million OMR, comprising 9.7 million OMR in the stock market and a significant 4 million OMR in the bond and sukuk market. Within the stock market realm, Omantel dominated trading volumes at 4.7 million OMR, followed by Bank Muscat at 2.8 million OMR, and OQ Gas Networks maintaining