Muscat:Indices on the Muscat Stock Exchange (MSX) saw a decline during last week's trading sessions, primarily due to selling pressure. The main index dropped by 154 points, settling at the 7,678-point level, thus losing the gains made in the previous week when it had exceeded the 8,000-point mark.
According to Yemen News Agency, the exchange faced selling pressure from a variety of investors amidst ongoing regional geopolitical tensions. This was coupled with a decrease in purchasing activity from local institutional investors, while Gulf and foreign institutional investors shifted towards selling, a trend that adversely affected stock performance.
The financial sector index experienced the most significant losses, dropping approximately 220 points, followed by the industrial sector index with a loss of 204 points. The services sector index decreased by about 100 points, and the Sharia-compliant index fell by 13 points. The performance of the stock exchange was further impacted by a decline in the shares of several leading companies, including Bank Muscat, Sohar International Bank, Oman Arab Bank, OQ Exploration and Production, OQ Basic Industries, Asyad Shipping, Omantel, Oman India Fertiliser Company (OMIFCO), and Voltamp Energy, along with various firms in the industrial, energy, services, and investment sectors.
Additionally, 56 securities saw price declines over the week, while 26 securities experienced price increases, and 12 securities remained unchanged.
In terms of market capitalization, the Muscat Stock Exchange reported a weekly loss of 521 million Omani Rials, closing Thursday's trading session at 39.369 billion Omani Rials. Trading activity also saw a drop, with the total value of trades falling by 34 percent to 273.8 million Omani Rials from 417.3 million Omani Rials the previous week. Conversely, the number of executed transactions rose by 20 percent, exceeding 72,000 deals compared to 60,000 deals the week before.
