Muscat Stock Exchange records RO 119 million in trading value in April

Muscat Stock Exchange records RO 119 million in trading value in April

April marked a significant upswing in trading activity on the Muscat Stock Exchange (MSX).

The post Muscat Stock Exchange records RO 119 million in trading value in April appeared first on The Arabian Stories News.Muscat: With a notable increase in the trading value reaching RO 119 million, up from RO 84.4 million in March, this 41% surge was driven by heightened trading in bank shares and companies reporting improved financial performance in the first quarter of the year.

Leading the charge in trading value was the National Bank, comprising 23.3% of the total transactions with trades amounting to RO 27 million and 735 thousand. Following closely, Sohar International Bank secured the second spot with trades worth RO 12 million and 121 thousand, while Bank Muscat ranked third with trades amounting to RO 11 million and 727 thousand.

The positive financial results announced by several public joint-stock companies during the first quarter had a ripple effect on stock prices. The market witnessed increases in the prices of 46 securities, compared to 32 securities experiencing price declines, while 17 securities stabilized at their previous levels. This upward momentum bolstered the main and sectoral indices, with the financial sector index showing the most robust rise of