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Oman News

Muscat Stock Exchange edges higher with 5.4-point lift

The Muscat Stock Exchange (MSX) index posted a modest gain today, increasing by 5.4 points to close at 4725.12 points.

TAS News Service

info@thearabianstories.com

Thursday, September 19, 2024

Muscat: The trading value reached RO 3 million, while the market value edged up by 0.030%, totalling RO 24.51 billion.

Despite the overall rise in the MSX index, the performance of the exchange’s major indices was mixed. The industrial index saw a slight increase of 0.1%, while the Sharia index dropped by 0.2%, the services index slipped by 0.1%, and the financial index fell by 0.07%.

Among the top performers, OQ Gas Networks dominated the trading session with transactions valued at RO 1.1 million, followed by Bank Sohar International at RO 774 thousand and Oman International Development and Investment (Ominvest) at RO 322 thousand.

On the gainers’ side, Al Jazeera Services led the way with a 6.2% increase, closing at 204 baisas, followed by Muscat City Desalination Company, which rose by 2.8%, and Dhofar Beverages and Foodstuffs, up by 2.5%.

However, the trading session also witnessed notable losses. Oman Investments and Finance experienced the steepest decline, falling by 2.63% to close at 74 baisas. Al Anwar Investments followed closely with a 2.60% drop, while Ominvest Convertible Bonds 2024 slipped by 2.2%.

Investor activity showed a heavy leaning toward selling by Omani investors, who accounted for 92.6% of total sales, worth RO 2.8 million, compared to 78.8% of purchases, valued at RO 2.4 million. Non-Omani investors made purchases worth RO 649 thousand, representing 21.1% of the total, while their sales amounted to RO 225 thousand, contributing 7.3%. This pushed the net non-Omani investment to RO 424 thousand, representing 13.8%.

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