MSX emerges as second-best performing market in the GCC
Published: 03:04 PM,Apr 02,2023 | EDITED : 07:04 PM,Apr 02,2023
2295891
BUSINESS REPORTER
MUSCAT, APRIL 2
The Muscat Stock Exchange (MSX) 30 index was the second-best performing market in the GCC during March-2023 witnessing a monthly growth of 2.3% to close the month at 4,863.09 points. In terms of sector performance, two out of the three sector indices recorded monthly gains during March-2023, according to Kamco Invest.
The industrial sector index recorded the biggest monthly growth of 2.2% during March-2023, closing the month at 6,070.8 points. The growth was primarily driven by small number of top performing companies including SMN Power Holding which witnessed share price growth of 31.9% during March-2023 and Anwar Ceramic Tiles which witnessed 13.3% gains.
The financial sector index followed witnessing a monthly rise of 1.8% to close the month at 7,778.2 points while the services sector index registered a marginal monthly drop of 0.4% during March-2023.
Stand out share price performance of companies like Al Batinah Development & Investment Holding Co in the Financial Sector Index, which recorded a share price growth of 76.2% during the month has been the primary driver of the sector indices monthly gain.
MUSCAT, APRIL 2
The Muscat Stock Exchange (MSX) 30 index was the second-best performing market in the GCC during March-2023 witnessing a monthly growth of 2.3% to close the month at 4,863.09 points. In terms of sector performance, two out of the three sector indices recorded monthly gains during March-2023, according to Kamco Invest.
The industrial sector index recorded the biggest monthly growth of 2.2% during March-2023, closing the month at 6,070.8 points. The growth was primarily driven by small number of top performing companies including SMN Power Holding which witnessed share price growth of 31.9% during March-2023 and Anwar Ceramic Tiles which witnessed 13.3% gains.
The financial sector index followed witnessing a monthly rise of 1.8% to close the month at 7,778.2 points while the services sector index registered a marginal monthly drop of 0.4% during March-2023.
Stand out share price performance of companies like Al Batinah Development & Investment Holding Co in the Financial Sector Index, which recorded a share price growth of 76.2% during the month has been the primary driver of the sector indices monthly gain.