Muscat Stock Exchange Records New Gains Amid Increased Liquidity

Muscat: The Muscat Stock Exchange recorded new gains last week as liquidity continued to flow amid new disclosures that boosted confidence levels and pushed the main index above 4,930 points, recording a weekly increase of 80 points. According to Yemen News Agency, the services sector index rose 82 points to close at 1,919 points, while the financial sector index rose 32 points. The Shariah index rose 7 points to 477 points, while the industrial sector index fell 39 points, affected by the decline in shares of several industrial companies, most notably Oman Cables Industry Company, Voltamp Energy, Al Jazeera Steel Products Company, Oman Flour Mills, Gulf International Chemicals Company, and OQ Basic Industries. Last week, the Muscat Stock Exchange achieved gains in its market capitalization of OMR 208.4 million, rising to OMR 29.61 billion by the end of Thursday's trading, benefiting from the rise in shares of several companies. Last week witnessed high trading levels of OMR 121.2 million, with executed de als increasing by 28 percent, exceeding 13,700. Bank Muscat topped the list of most traded companies with OMR 37.9 million, accounting for 31.3 percent of the total trading value. OQ Exploration and Production came in second with OMR 19.2 million, while Bank Sohar International came in third with trades of OMR 18.6 million, representing 15.4 percent of the total trading value. Last week, the prices of 32 securities rose, while 32 declined, and 23 remained stable. Muscat Insurance recorded the highest increase, rising 20.7 percent to close at 855 baisas. Sembcorp Salalah rose 16.1 percent to close at 180 baisas, and SMN Power Holding rose 15.5 percent to close at 231 baisas.