MUSCAT: The market capitalisation of the Muscat Stock Exchange (MSX) climbed to over RO 28 billion last week, supported by weekly gains of RO 79.3 million as several stocks ended higher. The MSX’s main index closed at 4,578 points, up 17 points, maintaining the momentum seen over the past five weeks.
The services sector index gained 5 points, driven by strong performances from Ooredoo, Omantel and OQ Gas Networks. In contrast, the industrial and financial sector indices dropped by 17 and 10 points, respectively, while the Shariah index recorded a marginal decline.
The daily trading volume increased to RO 11 million, up from RO 10 million the previous week. The average daily number of transactions also rose, reaching 2,149 compared to 1,787. Trading was limited to four days due to the Eid Al Adha holiday.
OQ Base Industries dominated activity with trades worth RO 10.58 million — 24 per cent of the week’s total trading value of RO 44 million. Its share price rose by 4 baisas to close at 122 baisas. Bank Muscat followed with RO 5.49 million in trades, while OQ Gas Networks, Sohar International Bank, and OQ Exploration and Production rounded out the top five most traded stocks.
Market performance remained buoyant with 34 securities gaining, 30 losing and 17 remaining unchanged. Muscat Gases posted the highest weekly gain at 18 per cent, closing at 118 baisas. Galfar Engineering rose 9 per cent to 72 baisas, while National Gas gained 8.8 per cent to 86 baisas.
National Gas Company also announced the acquisition of an 80-per cent stake in Samharam Gas Company, which operates LPG bottling and distribution in Dhofar. The deal is expected to enhance the company’s market position and profitability.
In corporate news, Al Anwar Investments reported a surge in net profits from RO 532,000 to approximately RO 2.4 million for the fiscal year ending on March 31, 2025. Its board approved a 4-per cent cash dividend and a 4-per cent bonus share issue, subject to approval at the AGM on June 25. The share closed last week at 83 baisas, down 2 baisas. — ONA
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