MSX achieves second best GCC market performance in 2022
Published: 02:12 PM,Dec 29,2022 | EDITED : 06:12 PM,Dec 29,2022
The MSX Index (MSX30) of Muscat Stock Exchange closed the year 2022 at 4,857.439, having increased by 728 points – an impressive growth of 17.6 per cent during the year. With this growth, the MSX is the second best GCC market performer in 2022 after ADX of Abu Dhabi.
On the last day of trading on Thursday, December 29, MSX recorded a trading volume of more than RO 9.2 million. According to Amor Ahmed al Maashani, Head of Brokerage - Ahli Bank, the daily trading average trading volume was RO 3.8 million in 2022, compared to RO 3.3 million last year.
Galfar Engineering delivered the best stock performance in 2022 followed by banks in Oman, which was due to the stability of oil prices, and credit rating upgrades of Oman’s sovereign debt, said Al Maashani.
“The Omani market will continue to remain positive for Q1 2023 with expected good volume in anticipation of the IPO of Abraj Energy Services to be followed by others in the coming quarters,” he added.
On the last day of trading on Thursday, December 29, MSX recorded a trading volume of more than RO 9.2 million. According to Amor Ahmed al Maashani, Head of Brokerage - Ahli Bank, the daily trading average trading volume was RO 3.8 million in 2022, compared to RO 3.3 million last year.
Galfar Engineering delivered the best stock performance in 2022 followed by banks in Oman, which was due to the stability of oil prices, and credit rating upgrades of Oman’s sovereign debt, said Al Maashani.
“The Omani market will continue to remain positive for Q1 2023 with expected good volume in anticipation of the IPO of Abraj Energy Services to be followed by others in the coming quarters,” he added.