Muscat: The index surged by 116 points, closing at 7,865 points, marking the best performance among MSX indices.

The main index of the MSX also performed well, rising for the second consecutive week and closing at 4,802 points, an increase of 10 points. Meanwhile, the Sharia index saw a slight increase of one point, the services sector index fell by 18 points, and the industrial sector index dropped by 5 points.

Oman Arab Bank’s Shares rose by 15 baisas to close at 145 baisas.
Bank Sohar International’s shares increased by 5 baisas, closing at 139 baisas. Bank Nizwa’s shares went up by 3 baisas to 108 baisas and National Bank of Oman’s shares increased by 2 baisas, closing at 277 baisas.

Sohar International Bank was the most traded company in terms of value, with trades worth RO 1.686 million, representing 12.1 percent of the total trading value. Bank Muscat followed with trades worth RO 1.446 million, and National Bank of Oman came third with trades totaling RO 1.357 million.

Despite the positive performance in the financial sector, the overall trading value on the MSX declined by 48 percent from the previous week, amounting to RO 13.8 million. The number of transactions also decreased by 15 percent, from 3,547 to 3,010.

The MSX’s market value rose to RO 24.456 billion, gaining 47.1 million riyals over the week. Prices of 32 securities increased, led by Al Madina Investment Holding, which surged by 15.7 percent to 81 baisas. Building Materials Industry Company saw the largest drop, declining by 8.7 percent to 42 baisas.

Al Hassan Engineering Company announced its shareholders’ approval to voluntarily dissolve and liquidate the company due to significant accumulated losses. The company’s shares remained stable at 20 baisas.

Gulf International Chemicals Company has invited its shareholders to an ordinary general assembly meeting on June 9 to discuss the proposal to distribute cash dividends of 3.4 baisas per share for the financial year ending December 31, 2023.