MSX trading value rises to OMR20.9mn

Muscat: Trading value on the Muscat Stock Exchange (MSX) rose last week to OMR20.9 million, recording a growth of 30.6 percent from its level a week ago, which amounted to OMR16 million.

The shares of OQ Gas Networks, Omantel, Bank Muscat, Abraj Energy Services, and Sohar International Bank pushed the trading value to rise amid positive expectations, and the five companies accounted for 65 percent of the total trading value.

The trading value of OQ Gas Networks shares amounted to OMR4.1 million, representing about 20 percent of the total trading value. Omantel witnessed trading worth OMR3.1 million, the trading value of Bank Muscat shares amounted to OMR2.7 million, while the trading value of Abraaj Energy Services shares amounted to OMR2.5 million and Sohar International Bank witnessed trades was worth OMR1.30 million, representing 6.2 percent of the total trading value.

The number of deals executed in the week increased by 38 percent from 3,557 deals to 4,915 deals. OQ Gas Networks and Abraaj Energy Services accounted for 50.5 percent of the total number of deals executed. Abraaj’s shares rose to 318 baisas, up 16 baisas during the week, and OQ Gas Networks’ shares rose to 150 baisas, up by one baisa during the week.

The market value declined at the end of last week’s trading to OMR23.83 billion, recording a weekly loss of OMR90 million. Affected by the decline in the market value of the bond and sukuk market last week, fell by OMR100 million to close the trading at OMR4.29 billion

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In the week, the prices of 26 securities rose compared to 27 securities whose prices declined and 23 shares stabilised at their previous levels. The Oman and Emirates Holding Company shares recorded the highest increase, rising by 17 percent and closing at 55 baisas, Oman Educational and Training Investments share rose by 9.9 percent and closed at 387 baisas, while Takaful Oman Insurance shares rose to 48 baisas, rising by 9 percent.

Al Suwadi Energy shares recorded the highest declines and closed at 20 baisas, down by 9 percent. Al A’Saffa Foods shares fell by 7.2 percent and closed at 320 baisas, and Oman Real Estate Fund units fell by 6.7 percent and closed at 83 baisas.