MSX sees RO 53.3 million market cap gain
MUSCAT: The Muscat Stock Exchange (MSX) recorded a weekly market capitalisation gain of RO 53.3 million, reaching RO 28.274 billion by the close of trading on Thursday.
Although the main index posted only a modest rise, closing at 4,507 points, sectoral indices showed mixed performance. The industrial index led with an 84-point gain, followed by the financial index, which added 19 points. The Shariah index rose by 3 points, while the services index remained unchanged.
Trading activity increased by 5.2 per cent, with the total value reaching RO 68.3 million. However, the number of transactions declined slightly to 8,626 from the previous week's 9,389. Omani individual investors showed renewed interest, accounting for 26.6 per cent of trading value.
Bank Muscat remained the most active stock, rising to 275 baisas after strong demand and contributing RO 12.5 million in trades. Other major contributors included OQ Base Industries (RO 11.4 million), Asyad Shipping (RO 10.2 million), OQ Gas Networks (RO 8.5 million), and Bank Sohar International (RO 8.34 million).
Bank Sohar and Ahli Bank announced the postponement of their proposed merger due to pending regulatory approvals. Ahli Bank will instead proceed with a rights issue to raise RO 50 million. Bank Sohar's shares dipped by one baisa to 139, while Ahli Bank rose by three baisas to 158.
Among the top gainers, Arabia Falcon Insurance surged by 17.3 per cent, followed by Oman Investment and Finance Company at 13.1 per cent. Muscat Insurance also rose 10 per cent. The biggest loser was Oman Qatar Insurance, which declined by 9.6 per cent.
In total, 39 stocks posted gains, 26 fell, and 22 remained unchanged, reflecting a relatively balanced market sentiment. — ONA
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