Muscat: The MSX mirrored the turbulent performance seen across Gulf and global financial markets last week, amid rising concerns that newly imposed U.S. tariffs could dampen global economic growth and corporate profits. Subdued trading dominated the exchange, with declines seen across several key sectors.
The financial sector bore the brunt, falling by 72 points to close at 7,502. The services sector index slipped by approximately 11 points, while the Shariah index edged down by less than a point. The industrial sector posted a modest rise of about 3 points, closing at 5,711, buoyed by gains in shares of Oman Flour Mills, Al Maha Ceramics, Al Safa Foods, and Al Anwar Ceramic Tiles.
Trading activity sharply contracted, with turnover plunging by 61.3 percent to RO 13.9 million, down from 36.2 million riyals a week earlier. The number of executed transactions also fell 23.9 percent to 4,539.
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MSX trading statistics showed 47 securities declining, 26 advancing, and 12 remaining unchanged. This bearish sentiment shaved off RO 115.8 million from MSX’s total market capitalization, which slipped to RO 27.579 billion by week’s end.
Among the most traded securities, OQ Exploration and Production led with 18.6 percent of the total trading value, followed by Bank Sohar International, Bank Muscat, Omantel, and OQ Gas Networks.
Top gainers included Jabal Al-Ahli Real Estate Investment Fund units, which surged 9.8 percent, and A’Saffa Foods, up 7.6 percent. National Aluminium Products, Fincorp Financial Centre, and Oman Education and Training Investments also posted notable gains.
On the downside, Dhofar Insurance tumbled 9.9 percent to lead the decliners, with Oman Chlorine, Al Madina Investment Holding Company, Muscat Gases, and Asyad Shipping following closely behind.
In corporate developments, Oman Financial Services Company successfully listed its new bond issuance on the MSX’s bond and sukuk market. Valued at RO 1.577 million, the bonds carry an annual interest rate of 5 percent and are set to mature after five years, in line with the company’s general assembly decision from March.
