Omani stock market closes weekly trading with positive performance

Omani stock market closes weekly trading with positive performance

Muscat: Local investment institutions during the week targeted the Aman Fund for Real Estate Investment in light of the interest witnessed in the real estate sector in the Sultanate of Oman after the announcement of the start of construction work in Sultan Haitham City.

Also, the announcement of the launch of a group of integrated residential neighbourhoods in a number of governorates, as part of the initiatives being implemented by the Ministry of Housing and Urban Planning, also helped in generating investors' interest. Purchases by local investment institutions during the week amounted to OMR21.3 million, accounting for 78.6 percent of the total trading value witnessed by the Muscat Stock Exchange during the week. The weekly trading on the MSX recorded an increase of 86 percent compared to the previous week’s trading, which amounted to OMR14.5 million.

This rise came in light of the focus of local investment institutions on the Aman Real Estate Investment Fund, which witnessed trades of about OMR12.3 million, representing 45.3 percent of the total trading value. OQ Gas Networks came next with trading valued at OMR2.8 million, followed by the National Bank of Oman, which witnessed trades worth OMR1.6 million.

The fund said in its report for the first