MUSCAT : According to MSX data, trading value in October jumped by over 110 percent compared to September’s RO 511 million. The total value of trades from January to October reached RO 3.495 billion, a sharp rise from RO 1.024 billion during the same period last year, underscoring strong market momentum.
Investor enthusiasm was largely driven by demand for banking and blue-chip stocks. Bank Sohar International led trading activity with RO 221.1 million, accounting for 20.5 percent of the total value, followed by Bank Muscat at RO 165.9 million. OQ Basic Industries and OQ Gas Networks followed closely with RO 161.2 million and RO 138.6 million respectively, while Asyad Shipping secured fifth place with RO 126.5 million, representing 11.7 percent of total trades.
The bonds and sukuk market also witnessed substantial growth, with trading value climbing 164 percent to RO 15.1 million, up from RO 5.7 million in September. The 70th issue of government development bonds topped the list at RO 3.5 million, followed by the 73rd issue at RO 3.2 million and Bank Dhofar 2022 bonds at RO 2.9 million.
Read More
- BankDhofar wins two prestigious awards for financial inclusion and women’s wealth management
- Bank Muscat engages with customers at Mall of Oman to showcase comprehensive banking services
- Integrated Gas Company inks 19 deals worth over RO 3.4 billion to boost Oman’s energy infrastructure
- The magic returns: Al Mouj walk welcomes a new season of energy, experiences, and excitement
- Workshop on “Ethical Artificial Intelligence in Education and Responsible Innovation”
Overall market indicators reflected strong investor confidence. The number of executed transactions surged to 134,000 in October, up 63.9 percent from September’s 81,614. The market capitalization of listed securities rose to RO 31.337 billion, gaining RO 802 million over the previous month.
MSX’s main index climbed 8.2 percent to close at 5610 points, adding 428 points in October. Sectoral indices also recorded notable gains, the financial index rose 703 points to 9228, the industrial index gained 202 points to 7233, and the services index advanced 187 points to 2268. The Sharia index edged up by six points to close at 471.
Of the 114 traded securities, 62 saw price increases, 31 declined, and 21 remained unchanged. Asyad Shipping shares topped the gainers’ list, rising 35.9 percent to 174 baisa, followed by National Aluminum Products (up 29.4 percent to 110 baisa) and Al Batinah Power (up 26.8 percent to 175 baisa).
Among the laggards, the Financial Center stock fell 14.2 percent to 36 baisa, Al Maha Ceramics dropped 13.9 percent to 266 baisa, and Muscat Insurance slipped 11.2 percent to 799 baisa.
For all the latest news from Oman and GCC, follow us on Twitter, Instagram and LinkedIn, like us on Facebook and subscribe to our YouTube page, which is updated daily.
