MUSCAT: The Muscat Stock Exchange (MSX) gained RO 110 million in market capitalisation last week, closing at RO 28.384 billion by the end of Thursday’s trading session. The growth came as individual investors opted to sell shares amid improved stock prices, while investment funds and institutions continued to inject liquidity into the market.
Weekly trading value stood at RO 52.6 million, with 7,175 transactions recorded. According to trading data, Omani retail investors accounted for 31.8 per cent of total sales compared to 28.3 per cent in purchases.
The week’s most actively traded stocks by value included OQ Base Industries, Asyad Shipping, Bank Muscat, OQ Gas Networks, and Sohar International, which together made up around 72 per cent of total trading value.
Stock prices rose for 48 listed companies last week, while 16 declined and 25 remained unchanged. These gains pushed up the MSX’s main index by approximately 43 points to close at 4,549 points. Sectoral indices also posted gains, with the industrial sector index rising by 177 points—the highest among sectors. The financial sector rose 53 points, the services sector 25 points, and the Shariah index closed 5 points higher at 438 points.
Muscat Desalination City (MDC) led the week’s gainers, jumping 10.4 per cent to close at 74 baisas. Al Maha Petroleum Products Marketing followed with a 9.9 per cent gain to 993 baisas. Fincorp Financial Centre shares rose 9.6 per cent to 34 baisas, International Financial Investment climbed 8.6 per cent to 113 baisas, and A’Saffa Foods gained 8.1 per cent to 410 baisas.
On the downside, Oman Chlorine shares dropped 10 per cent to 270 baisas. Dhofar Food and Investment fell 8.1 per cent to 68 baisas, National Gas declined 7.8 per cent to 82 baisas, while Ooredoo and Salalah Port Services each shed 4 per cent to close at 190 baisas and 240 baisas, respectively.
In corporate developments, Oman Investment and Finance Company was officially delisted on July 2 following its merger with Dhofar International Development and Investment Company. As a result, 86.8 million new shares were listed under Dhofar International, raising the company’s capital from RO 54.4 million to RO 79.6 million, with RO 25.2 million allocated to former shareholders of Oman Investment and Finance.
Last week also saw the Financial Center (Fincorp) hold its Extraordinary General Assembly, where shareholders approved a proposal to cancel all licences issued by the Financial Services Authority and change the company’s activity from financial brokerage to investment. The company's articles of association were amended accordingly. — ONA
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