Muscat Stock Exchange projects improved 2024 performance with 15% surge

Muscat Stock Exchange projects improved 2024 performance with 15% surge

Financial projections suggest an optimistic outlook for the Muscat Stock Exchange (MSX) in the upcoming year, forecasting a substantial upswing compared to its 2023 performance.

The post Muscat Stock Exchange projects improved 2024 performance with 15% surge appeared first on The Arabian Stories News.MUSCAT : Mustafa Ahmed Salman, Chairman & CEO of United Securities Finance, highlighted an anticipated 15% rise in the general index of the stock exchange, foreseeing a promising recovery.

Salman attributed the expected stock exchange recovery to upcoming Initial Public Offerings (IPOs) and transformative measures by the Oman Investment Authority. These initiatives include the introduction of more subsidiaries for public subscription and the implementation of a financial sustainability program aimed at invigorating the local economy, fostering stock exchange growth, and instilling robust confidence in the Omani economy’s future growth prospects.

Additionally, the exchange is finalizing the “Lending and borrowing shares” project, enhancing market mechanisms for greater efficiency and liquidity.

Reflecting on MSX’s performance in 2023, Salman noted fluctuations throughout the year, culminating in a year-end downturn with losses nearing 7%. These losses were attributed to various factors, including the impact of the United States monetary tightening policy, resulting in heightened global interest rates that dampened investor appetite for equities. Geopolitical