Friday, March 24, 2023 | Ramadan 1, 1444 H
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MSX ends the week higher supported by all sub-indices


MSX30 Index ended the week higher by 0.80 per cent. All sub-indices ended in green. Industrial sector led the gaining 1.51 per cent. Services sector and Financial sector closed up by 1.13 per cent and 0.94 per cent respectively. MSX Shariah Index increased by 1.51 per cent.

A new collaboration between Sharakah and BankDhofar was established recently to support the SMEs in Oman. The collaboration is to facilitate a wider array of funding and supporting opportunities to small and medium enterprises in the Sultanate. With a keen interest to help entrepreneurs, the joint support will also ensure better facilities for the startups and established businesses alike.

As per the CBO, Oman's narrow money supply (M1) increased during the month of Apr 2021 by 3.6 per cent MoM and 4.1 per cent YoY. The MoM expansion was due to a growth in Demand Deposits by 4.3 per cent as well as a 1.5 per cent MoM increase in currency outside banks. Broad money (M2) supply also increased by 1.0 per cent MoM and was higher by 5.8 per cent YoY. YoY increase was led by an 6.6 per cent rise in Quasi Money. While on monthly basis, domestic liquidity increased by about RO 198 million i.e. 1 per cent.

CBO's foreign assets dropped to RO 6.62 billion as at the end of Apr 2021, having decreased by 3.3 per cent MoM but were higher 5.1 per cent YoY. CBO’s Fx assets include bullion, IMF reserve assets, placements abroad and foreign securities. CBO Fx assets were higher on MoM basis by 4.0 per cent. The MoM expansion was brought on by a 6.9 per cent MoM increase in placements abroad, 1.4 per cent MoM growth in IMF reserve assets and 1.1 per cent growth in securities. Share of securities of the total was 46.3 per cent while that of placements abroad was 51.9 per cent while the rest amounting to 1.8 per cent was held by IMF reserve assets.

Oman Fixed line subscribers were down 0.2 per cent YTD till May at 0.593 million compared to 0.594 million in December 2020. Total mobile subscribers were down 3.6 per cent YTD while within mobile segment, post paid subscribers were higher by 11.2 per cent whereas the prepaid subscribers were down 6.5 per cent. Active Mobile Broadband subscribers were down 6.2 per cent to 5.05 million in May 2021 compared to 5.385 million in December 2020. Penetration levels were down marginally to 13.2 per cent, 134.4 per cent and 112.3 per cent for fixed line, mobile and mobile broadband, respectively.

The total number of vehicles registered in the Sultanate totaled 1.539 million in May 2021, representing a small increase over the December 2020 registered vehicles at 1.557 million, according to the National Centre for Statistics and Information. Private vehicles topped the list of vehicles registered at 1.218mn, followed by 0.232 million commercial vehicles and 29,169 taxis. The number of vehicles with temporary registration reached 10,545 compared to 15,351 vehicles in December 2020. (Courtesy: U-Capital)

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