Muscat Stock Exchange trading value rises to OMR119mn in April

Muscat Stock Exchange trading value rises to OMR119mn in April

Muscat: The value of trading on the Muscat Stock Exchange (MSX) increased in April to OMR119 million, compared to OMR84.4 million in March, recording a 41 percent increase.

The trading value benefited from the increase in trading in bank shares and a number of companies that announced improved financial results in the quarter.

National Bank of Oman (NBO) accounted for 23.3 percent of the total trading value after witnessing trades worth OMR27.73 million. Sohar International Bank saw trades amounting to OMR12.12 million, Bank Muscat witnessed trades amounting to OMR11.72 million. Omantel saw trading value amounting to OMR9.48 million while OQ Gas Networks (OHQN) saw trades amounting to OMR6.59 million.

The financial results announced by public joint-stock companies in the first quarter had a positive impact on stock prices, with the stock market witnessing an increase in the prices of 46 shares, compared to 32 securities whose prices declined and 17 securities that remained unchanged at their previous levels. These increases pushed the main index and sectoral indices to rise higher, with the exception of the services sector index, which lost 14 points and closed at 1,833 points. The financial sector index recorded the best increase, rising 404 points, the industrial sector index rose