Industrial sector record positive performance on MSX

Industrial sector record positive performance on MSX

Muscat: The industrial sector recorded a positive performance in weekly trading on the Muscat Stock Exchange (MSX) benefited from the rise in the shares of a number of industrial companies included in the index sample.

The sector, such as Galfar Engineering and Contracting, Al-Saffa Foods, and Raysut Cement and Lights For ceramic tiles.

The value of market capitalisation of the Muscat Stock Exchange at the end of the week rose to OMR23.90 billion recording a weekly gain of OMR39.5 million.

The total value trading in the week rose to OMR20.2 million, compared to OMR15.3 million recorded in the previous week.

In company news, Abraj Energy Services Company said that it has signed a contract to provide drilling services in the concession area in Block 12 with TotalEnergies, a global company working in the field production of multiple energy sources in more than 130 countries. The company expects to generate positive revenue results from this contract and will be reflected in the company’s financial results during the year 2024. The company's shares at the end of the week's trading were at their previous level of 299 baisas.

During the week, Omani Educational and Training Investments Company announced its results Initial financial report for the first quarter