Muscat: June marked the second-highest monthly trading value for MSX in 2024, trailing only February’s peak of RO 234.5 million. Investor appetite was noticeably higher, with investment funds and institutions injecting more liquidity into the market, reinforcing sentiment and driving activity.
The number of executed transactions reached 34,489 in June, up 5.3% from May’s 32,736, making it the most active month so far this year in terms of trade volume. The market capitalization of listed securities climbed to RO 28.27 billion by month’s end, with a monthly gain of RO 343 million.
However, the exchange’s main index reflected some caution, dropping by 60 points to close at 4,500, weighed down by geopolitical tensions in the region. Sectoral indices mirrored the trend: the industrial index slipped 96 points, financial index fell 92 points, services index dropped 25 points, and the Shariah index edged down 9 points.
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Among the top performers, OQ Basic Industries dominated trading value with RO 46.6 million — 20.3% of total trades — followed by Bank Muscat (RO 32.5 million) and OQ Gas Networks (RO 31.6 million).
Oman Investment and Finance Company led the gainers with a 19.4% rise to 86 baisas before its delisting in July following a completed merger with Dhofar International Development and Investment Company. Other notable risers included Muscat Insurance Company (up 18.9% to 660 baisas), Arabia Falcon Insurance (up 17.3%), Muscat Gases (up 15%), and National Biscuit Manufacturing Company (up 14.1% to OMR 4.840), which approved a 500 baisa-per-share dividend at its AGM on June 25.
On the downside, Building Materials Industries fell 15.6% to 70 baisas, while Bank Dhofar lost 12.2%, and Ooredoo declined 10.4% to 188 baisas. Oman Qatar Insurance, Barka Water and Power, and others also saw declines ranging from 9–10%.
Meanwhile, a key banking merger between Bank Sohar International and Ahli Bank hit a regulatory roadblock. The two entities, which had signed a letter of intent in April outlining a full amalgamation plan, confirmed last month that regulatory approvals were not obtained.
