Muscat: To boost economic activity, His Majesty Sultan Haitham bin Tarik unveiled an incentive program targeting the conversion of various companies into public joint stock entities. This initiative includes establishing a “Promising Companies Market” on the MSX, focused on private, family-owned, small, medium, and emerging enterprises. The move is part of a broader strategy to develop the capital market sector, enhance its role as a financing option, and increase commercial contributions to the national economy.

The positive atmosphere following these announcements led to notable gains across the MSX’s indices. The financial sector saw the most significant rise, climbing by approximately 150 points. The industrial sector index increased by 11 points, the Sharia index by two points, and the services sector index by one point.

The market value of securities on the MSX surged to RO 24.478 billion, reflecting weekly gains of RO 22.3 million. Trading values more than doubled, jumping to RO 30.4 million from RO 13.8 million the previous week. The number of executed deals also saw a 35 per cent increase, rising from 3,010 to 4,066.

Liva Group led the trading value, accounting for 28 per cent, with trades worth RO 8.5 million. Bank Muscat followed with RO 5.5 million, and A’Saffa Foods with approximately RO 4.7 million. OQ Gas Networks and Galfar Engineering and Contracting are also prominent among the top-traded companies.

Price movements were mixed, with 24 securities appreciating, 29 declining, and 31 remaining stable. Oman Free Finance 2022 bonds recorded the highest increase, rising by 10 per cent. In contrast, Al Madina Investment Holding saw the most significant decline, dropping by 18.5 per cent as it prepares to transition from a public to a closed joint stock company.