The Muscat Stock Exchange (MSX) saw an increase in market capitalization by OMR6.5 million, reaching OMR24.39 billion. This rise was fueled by gains in the market value of public joint stock companies, which increased by over OMR58 million to OMR9.2 billion. However, the closed market saw declines, leading to an overall market value of OMR10.79 billion, with weekly losses of about OMR49 million. The main index of the Muscat Stock Exchange saw a 48-point increase to close at 4,693 points, bouncing back after a previous week’s decline.
During the week, 22 shares saw an increase in price compared to 15 in the previous week, while 22 shares saw a decrease compared to 39 previously. The positive performance of the Muscat Stock Exchange was attributed to its resilience to global political and economic conditions impacting other regional and global exchanges over the past two weeks. Trading value increased by 2.4 percent to OMR8.50 million, with a decrease in the number of deals executed to 2,463, compared to 2,744 in the previous week.
Gulf International Chemicals led the gainers, rising by 6 percent to close at 70 baisas. Al Anwar Ceramic Tiles and Al Anwar Investments also saw increases of 5.9 percent and 5.5 percent, respectively. On the other hand, Dhofar Power Generation Company saw the largest decline, dropping by 7.1 percent. Muscat Finance Company and Muscat Gases also experienced decreases of 4.2 percent and 3.9 percent, respectively.
Bank Muscat was the most traded company, accounting for 24 percent of the total trading value with trades worth OMR2.41 million. Bank Sohar International and Omantel followed in second and third place, with trades worth OMR1.17 million and OMR885,000, respectively. In corporate news, Salalah Mills Company announced an Extraordinary General Assembly meeting scheduled for September 1st to discuss increasing its issued capital from OMR4.99 million to OMR17.49 million through a private subscription to an international company valued at OMR12.5 million.
