Muscat: Asyad Shipping debuted with a capital of RO 130.2 million, divided into 5.2 billion shares, and quickly gained traction. Its market value reached RO 645.8 million by the end of March, with shares closing at 124 baisas, up one baisa from the offering price.
While the new listing helped boost overall market value, MSE’s main index dropped for the third consecutive month, closing at 4,367 points, a 68-point decline from February. All sectoral indices followed suit:
Industrial index: -284 points
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- Muscat power production rises 197% as Oman posts 4.5% overall growth
- Survey launched to track learning access and skills across Oman
- HDFC Bank CEO Sashidhar Jagdishan to retire in October after deciding against reappointment
- RO 45 million Samail Hospital to bring advanced care closer to Oman’s Al Dakhiliyah
- Musandam’s non-oil economy gains momentum as investment oppportunities expand in Oman
Financial index: -49 points
Services index: -33 points
Shariah index: -23 points
This dip comes as public joint-stock companies approved dividend distributions for the fiscal year ending December 31.
March’s trading value stood at RO 124.2 million, sharply down from RO 234.5 million in February, which had been buoyed by high-volume trades of Ahli Bank shares following a 35% stake sale to Royal Court Affairs and local investors.
Investor interest shifted toward the banking sector, with top traded stocks being:
National Bank of Oman – RO 19 million (15.3% of total trades)
OQ Exploration and Production – RO 18.6 million
Bank Sohar International – RO 14.1 million
Bank Muscat – RO 12.9 million
Asyad Shipping – RO 10 million (8.1% of total trades)
Out of all listed securities in March:
24 stocks rose,
61 declined, and
17 remained stable.
Top gains included:
Muscat Insurance (+60.3%, 513 baisas)
Leva 2024 bonds (+53.8%, 100 baisas)
Voltamp Energy (+13.5%, 680 baisas)
Al Anwar Investments (+10.3%, 75 baisas)
Muscat Gases (+5.5%, 90 baisas)
Top decliners were:
The Financial Centre (-32%, 32 baisas)
Oman Cement (-18.9%, 398 baisas)
SMN Power Holding (-17.7%, 288 baisas)
Leva Group (-15.6%, 270 baisas)
Shell Oman Marketing (-14.7%, 503 baisas)
The number of executed transactions rose by 2.8%, reaching 17,347, as investors zeroed in on OQ Group stocks. Leading the transaction count were:
OQ Exploration and Production – 2,504
OQ Gas Networks – 1,852
OQ Basic Industries – 1,350
Abraj Energy Services – 1,165
Bank Sohar International – 985
