Saturday 15 / March / 2025
Muscat: The market capitalisation of the Muscat Stock Exchange (MSX) rose to OMR27.60 billion by the end of the week. The positive performance of banking and investment company stocks led to a 38-point rise in the financial sector index, the only gainer among the Muscat Stock Exchange indices.
Meanwhile, the main index fell 8 points, closing at 4,387 points. The industrial sector index lost 154 points, the services sector index fell by 16 points, and the Shariah index fell by 7 points, closing the week at 395 points.
Asyad Shipping’s shares witnessed 287 transactions in its first trading session on the MSX during the week, worth OMR 2.7 million, representing 10.8 percent of the total trading value. The share closed at 123 baisas, unchanged from the subscription price. The company’s market capitalisation at the end of the week’s trading reached OMR640.6 million.
The highest market capitalisation was of OQ Exploration and Production (OQEP) at OMR2.5 billion, Bank Muscat at OMR1.9 billion and Bank Sohar International, at OMR 820.5 million. Omantel’s market capitalisation was at OMR603 million.
In other trading, investors on the MSX during the week targeted bank shares, awaiting the approval of dividend distributions at the annual general meetings, which are expected to be held in the coming days.
The National Bank of Oman’s share topped the most traded companies in terms of trading value, at OMR9.9 million in trades, representing 39 percent of the total trading value. Bank Sohar International saw trades worth OMR 1.6 million, and Bank Muscat saw trades worth approximately OMR1.5 million. The seven banks listed on the MSX accounted for 51.5 percent of the total trading value witnessed by the bourse, which amounted to approximately OMR25.3 million.
National Bank of Oman shares rose by 7.1 percent, closing at 300 baisas. Ahli Bank shares rose by 5.3 percent, closing at 176 baisas, and Oman Arab Bank shares rose by 1.4 percent, closing at 137 baisas.
National Bank of Oman will hold its annual general meeting on March 18, during which the meeting will discuss the distribution of a cash dividend of 9.4 baisas per share. On March 23, Bank Dhofar shareholders will discuss the distribution of a cash dividend of 6.55 percent and bonus shares of 1.45 percent. On March 25, Ahli Bank shareholders will discuss the distribution of a cash dividend of 5 percent and convertible bonds of 5 percent. Bank Muscat shareholders will discuss the distribution of a cash dividend of 16.5 percent on March 26, and on the same date, Sohar International Bank shareholders will discuss the distribution of an 8 percent cash dividend.
Bank trading also contributed to a 36 percent increase in trading value reaching OMR25.3 million compared to OMR18.6 million in the previous week. The number of transactions executed increased from 3,489 to 4,064.
The Muscat Stock Exchange also witnessed a decline in the prices of 43 securities, compared to 15 that saw their prices rise, and 24 securities remained unchanged. Muscat Insurance recorded the highest gains, rising by about 46 percent to close at 467 baisas. Voltamp Energy rose by 7.8 percent to close at 620 baisas, and National Bank of Oman recorded a 7.1 percent increase to close at 300 baisas.
Shell Oman Marketing was the biggest loser, declining 15.2 percent to close at 500 baisas. Oman Cables Industry fell 10.7 percent to close at 2.174 baisas, while Oman Fisheries fell 10 percent to close at 27 baisas.
