Oman’s stock market rebounds in weekly trading amid global and regional uncertainties

Oman’s stock market rebounds in weekly trading amid global and regional uncertainties

Muscat: The Oman stock market saw a volatile week amid global and regional uncertainties, according to an analyst. "While it was able to rebound to a certain extent this week from its long decline, recording a positive performance, the MSX 30 ended with a price correction on its last trading day, "Hani Abuagla Senior Market Analyst at XTB said. As a result, the market could remain exposed to additional losses. Geopolitical tensions in the region still constitute a source of risk and could continue to weigh on sentiment, he added. The value and volumes traded on the stock exchange have continued their decline for the second week in a row. Both values have been receding from their peak at the end of last month. "The market strongly benefited from the introduction of OQ Gas Networks during that period. However, trading volumes still remain higher than in previous months despite the decline," Hani Abuagla said. The market was mainly supported by the performance of the financial sector which recorded a 1. 10 percent increase this week. The services and industrial sectors fell, however, extending their multi-week decline, although losses were more limited than during previous weeks. The financial sector's performance was