MUSCAT: The Muscat Stock Exchange (MSX) continued its upward trend last week, posting a gain of 51 points to close at 5,654 points, buoyed by positive earnings results from listed companies for the first half of 2025.
This marks the fourth consecutive week of growth for the exchange, driven largely by improved financial performance and increased investor confidence. The financial sector index rose by 5 points, while the services sector added 7 points. The Shariah index remained steady at 449 points. In contrast, the industrial sector index fell by 70 points, pulled down by losses in companies such as Oman Flour Mills, Al Maha Ceramics, Voltamp Energy, and others.
Trading activity surged, with the number of executed transactions rising by 14 per cent to 10,600, up from 9,290 the previous week. The value of trades remained high, totalling RO 82.4 million, as investment funds and institutions injected more liquidity into the market.
Market capitalisation increased by RO 206.7 million, reaching RO 28.643 billion by the end of Thursday’s session. OQ Base Industries led trading activity with a value of RO 21.9 million, accounting for 26.5 per cent of the total. Asyad Shipping and Bank Muscat followed, with trades worth RO 15.1 million and RO 14.4 million, respectively.
A total of 42 securities gained in value, 29 declined, and 16 remained unchanged. Muscat Insurance topped the gainers, rising 20.3 per cent to 794 baisas. Oman Oil Marketing rose by 11.9 per cent to 750 baisas, and Dhofar Food and Investment climbed 11.2 per cent to 79 baisas. Oman Education and Training gained 10 per cent to 1,320 baisas, and Salalah Port Services added 8.3 per cent to 260 baisas.
Among the losers, National Aluminium Products dropped 15.8 per cent to 85 baisas, while International Financial Investments fell 11.7 per cent to 135 baisas. Al Madina Investment declined 8.8 per cent to 41 baisas, and Oman Flour Mills dropped 7.6 per cent to 469 baisas.
In corporate developments, Asyad Shipping announced the arrival of a new 308,000-tonne crude oil tanker, "Qurayyat", as part of a $206 million deal to acquire two tankers. The second vessel is expected soon.
Liva Group, a major insurance company, has restructured its debt portfolio, consolidating loans into a new RO 63 million credit facility with Bank Sohar International, aiming to cut borrowing costs and improve capital allocation.
Phoenix Power Company has confirmed it will distribute dividends on July 28, as approved during its AGM in March, at a rate of 3.5 baisas per share. — ONA
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