Muscat Stock Exchange trading value rises to OMR36.9 million

Muscat Stock Exchange trading value rises to OMR36.9 million

Muscat: The value of trading on the Muscat Stock Exchange (MSX) increased during the week to OMR36.9 million, compared to about OMR19.4 million in the previous week, benefiting from investors’ interest in the shares of a number of leading companies listed in the banking and communications sectors, in addition to the increase in trading in the bond and sukuk market.

Statistical data issued by the MSX indicated an increase in trading in Omantel shares, which witnessed trades worth OMR6.8 million, representing 18.4 percent of the total trading value. Bank Muscat witnessed trades worth OMR6.2 million, and Al Nahda Services ranked next with trades at OMR4 million. Sohar International Bank came saw trades worth OMR3.5 million, while Ooredoo ranked next with trades amounting to OMR2.5 million, and these companies accounted for about 63 percent of the total trading value witnessed by the stock exchange during the week.

The increase in demand for the shares of these companies came as local investment companies and funds moved to strengthen their portfolios, focusing on the shares of a number of leading companies after the appearance of the financial results for the first quarter, which showed growth in profits and improvement in performance.

Purchases by local investment institutions