Muscat Stock Exchange: Trading values soar by 44% in February, Bank Sohar leads rally

Muscat Stock Exchange: Trading values soar by 44% in February, Bank Sohar leads rally

The Muscat Stock Exchange witnessed a substantial surge in trading activity last February.

The post Muscat Stock Exchange: Trading values soar by 44% in February, Bank Sohar leads rally appeared first on The Arabian Stories News.Muscat: Trading value soared to RO 129.8 million, marking a robust 44 per cent increase compared to January 2024. This surge was fueled by heightened investor interest in Bank Sohar, government development bonds, and energy companies, driven by positive expectations surrounding their financial performance for the year.

The Muscat Stock Exchange experienced a remarkable uptick, characterized by a 132 per cent increase in the total number of securities traded, reaching approximately 866.1 million securities. Investors displayed a keen focus on stocks with lower market value, contributing to this surge while witnessing a marginal decline of about 11 per cent in the total number of transactions executed, totalling 18,940 deals in February.

Despite the market’s overall buoyancy, the stock market’s main index experienced a minor decline of 7 points, closing at 4,554 points. However, the services sector index notably ascended by 10.4 per cent, registering an increase of 163 points and closing at 1,733 points. Similarly, the Sharia index saw a modest rise of 6 points, closing at 446