Omani individual investors were actively involved in trading on the Muscat Stock Exchange last week, accounting for 38.5 percent of the total trading value, which amounted to OMR22.6 million. The shares of Sohar International Bank, National Bank, Galfar Engineering and Contracting, OQ Gas Networks, and Raysut Cement were among the most traded companies in terms of the number of shares traded. Sohar International Bank was the most traded company in terms of trading value, with trades worth OMR5.6 million.
The interest in leading stocks led to a rise in the main index of the Muscat Stock Exchange by about 60 points, closing at 4,773 points. The financial sector index rose by 140 points, the industrial sector index increased by 92 points, the Sharia index rose by 6 points, while the services sector index recorded an increase of 92 points. 32 securities saw rising prices during the week, compared to 27 securities that declined and 22 securities that remained unchanged. Al Madina Investment Holdings stock recorded the highest increase, rising by 27.2 percent.
Al Madina Investment Holding’s stock saw a significant increase after its sister company, Al Madina Real Estate Company, signed a partnership and development agreement with the Ministry of Housing and Urban Planning for the ‘Integrated Residential Plans and Neighborhoods Project.’ The company will establish the Al Ahed neighborhood in the Wilayat of Al Amerat with an investment value of OMR52 million, including 965 residential units to be built in phases.
The market value of securities listed on the Muscat Stock Exchange rose to OMR24.32 billion at the end of trading on Thursday, with weekly gains of OMR192.7 million. These gains were driven by the listing of the 70th issue of Government Development Bonds on the exchange on April 30. The regular market’s value increased by OMR71 million to top OMR5.47 billion, while the parallel market reached OMR3.77 billion, the follow-up market reached OMR77 million, and the closed market value reached OMR10.62 billion.
It is crucial for investors to keep track of the trading activities on the Muscat Stock Exchange to make informed decisions about their investments. With individual investors showing strong interest in trading, it is essential to analyze the trends in the market and identify opportunities for potential growth. By staying informed about the most traded companies and sectors, investors can strategically plan their investment portfolios for maximum returns.
In conclusion, the Muscat Stock Exchange continues to experience fluctuations in trading activities, with individual investors playing a significant role in driving the market. The rise in stock prices, particularly for leading companies like Sohar International Bank and National Bank, reflects the positive sentiment among investors. As the market value of securities continues to increase, investors should stay vigilant and adapt their investment strategies to capitalize on emerging opportunities in the stock exchange.
