MSX Trading Value Climbs as Investors Anticipate Dividends

Muscat: Trading value on the Muscat Stock Exchange rose last week to OMR 252.1 million, compared to approximately OMR 246.1 million the previous week, registering a growth of 2.4 percent. This increase was driven by investors diversifying their portfolios as they await dividend distributions from several companies in the coming weeks. According to Yemen News Agency, the Muscat Stock Exchange saw several gains last week, with the number of executed transactions rising by 2.2 percent to over 42,000. The market capitalization of listed securities climbed to OMR 38.33 billion, marking a weekly gain of OMR 140.3 million. The main index rose 14 points to close at 7,522 points. Sector indices recorded varying gains, with the financial sector index achieving the highest increase, rising 93 points to close at 13,248 points, benefiting from the rise in bank stocks and several investment companies. The services sector index rose 8 points, driven by the rise in shares of OQ Gas Networks, Al Jazeera Services, OQ Explora tion and Production, Abraj Energy Services, and several other companies. The Sharia-compliant index rose 3 points. Meanwhile, the industrial index recorded a decline of more than 100 points, affected by the drop in shares of several industrial companies such as Salalah Mills, Galfar Engineering and Contracting, Al Anwar Ceramic Tiles, Al Maha Ceramics, OQ Basic Industries, and Voltamp Energy. Last week, the prices of 39 securities rose, while 40 declined, and 17 remained unchanged. Oman Finance Free Bonds 2022 recorded the highest gains, rising 13.7 percent to close at 99 baisa. Shares of International Financial Investments increased by 11.5 percent to close at 339 baisa. Oman Finance Free Bonds 2020 rose by 6.2 percent to close at 85 baisa. Shares of Building Materials Industry increased by 6.1 percent to close at 69 baisa, and shares of Al Maha Petroleum Products Marketing rose by 6 percent to close at 1.220 rials. In contrast, Al Jazeera Services' premium shares recorded the highest losses, declining by about 20 percent and closing at 629 baisa, with a single transaction of 1,000 shares. Salalah Mills' shares fell by 10 percent and closed at 531 baisa, Ominvest's shares dropped by 5.6 percent and closed at 401 baisa, Galfar Engineering and Contracting's shares declined by 5 percent and closed at 150 baisa, and Muscat Gases' shares fell by 4.1 percent and closed at 139 baisa.