MUSCAT: The value of trading on the Muscat Stock Exchange jumped last week to OMR 30.2 million, compared to about OMR 18.1 million in the previous week, recording a growth of 67 percent.

This rise came amid a demand for some of the leading shares, most notably Omantel, Bank Muscat and Bank Dhofar, which together accounted for 47 percent of the total trading value.

Omantel witnessed transactions worth OMR 6.7 million, representing 22.3 percent of the total trading value, and Omantel’s share closed at the end of trading last week.

At 868 Baizas, it ranked fifth among the highest common stocks in terms of market capitalisation after Oman Refreshments, which closed at riyals and 750 baisas, Salalah Mills, which closed at OMR 100, Oman Shell Marketing, which closed at 884 baisas, and Oman Oil Marketing Company, which closed at 872 baisas. Prior to approving the dividend on March 27, Omantel’s stock had risen to 920 baisas.

The Bank Muscat share witnessed transactions worth OMR 3.8 million, and the value of trading on the Bank Dhofar share amounted to OMR 3.6 million, representing 12 percent of the total trading value. Fifth place among the most traded companies in terms of trading value, after witnessing the implementation of 84 deals, with a traded value of over OMR 1.8 million.

In conjunction with investors’ interest in the leading stocks with a high market value, the executed deals recorded a 14 percent decrease, falling below the 4,000 level for the first time in 4 weeks. The number of executed deals last week reached 3,541 deals, compared to 4,136 deals and 5016 deals in the previous two weeks.

Muscat Stock Exchange indices recorded collective losses last week, the main index fell to 4158 points, down by 77 points, the financial sector index recorded the highest losses, down 98 points, the services sector index lost 35 points, the industry sector index lost 15 points, and the legitimate market index lost 4 points. 

Last week, 31 companies’ prices fell compared to 15 companies whose prices increased and 19 companies maintained their previous levels. The recorded declines pushed the market value of the Muscat Stock Exchange to decline at the end of trading Thursday to OMR 22 billion and OMR 243 million, recording weekly losses estimated at OMR 66.6 million.

The Takaful Oman Insurance share came at the forefront of the gaining shares, up by 6 percent and closed at 70 baisas, the Building Materials Industry share rose by 5.1 percent and closed at 61 baisas, the Dhofar Electricity Generation share rose by 4.8 percent and closed at 65 baisas, and the Vision Insurance rose by 4.5% and closed at 115 baisas, while the share of Muscat Finance rose to 74 baisas, recording an increase of 4.2%.

Sembcorp Salalah’s share topped the losers’ shares, down by 8.5 percent, Al Anwar Investments’ share fell by 6.7 percent and closed at 83 baisas, and Aman Real Estate Investment Fund units fell to 91 baisas, down by 6.2 percent, and Ooredoo’s share fell by 5.6 percent and closed at 334 Baizas, and shares A’Saffa Foods decreased by 5.2 percent and closed at 90 baisas.