The Muscat Stock Exchange (MSX) saw gains last week, with the main index rising to 4,825 points. These gains came ahead of the listing of OQ Exploration and Production (OQEP) on October 28, which is expected to further enrich trading on the exchange. The financial sector index recorded the highest gains, with the industrial sector index also rising. The Sharia and services sector indexes also saw increases during the week. The market value of the Muscat Stock Exchange rose to OMR24.74 billion, with trading value also increasing. However, the bonds and sukuk market witnessed a decline in trading value.
OQ Gas Networks was the most traded company in terms of trading value, followed by Bank Muscat and National Bank of Oman (NBO). Prices of 30 securities rose, while 30 others declined and 18 remained unchanged. The Omani Education and Training Investment Company share recorded the highest gains, while the Financial Centre (Fincorp) share was the leading loser. In corporate news, National Bank of Oman completed the issuance of additional Tier 1 capital bonds worth US$150.4 million compliant with Basel III. Voltamp Energy signed a joint venture agreement with Gulf Technical Services Company in Saudi Arabia to establish a joint venture focused on power transformer repair services.
The Muscat Stock Exchange has been seeing positive gains for the past three weeks, with the main index rising steadily. The addition of OQ Exploration and Production to the exchange is expected to bring further activity and interest from traders. The financial sector index saw the highest gains, followed by the industrial sector index, as well as increases in the Sharia and services sector indexes. The market value of the Muscat Stock Exchange also rose during the week, reaching OMR24.74 billion. Trading value increased, except for the bonds and sukuk market which saw a decline in trading value.
OQ Gas Networks was the most traded company in terms of trading value, with Bank Muscat and National Bank of Oman (NBO) following closely behind. While prices of 30 securities rose during the week, 30 declined and 18 remained unchanged. The Omani Education and Training Investment Company share recorded the highest gains, while the Financial Centre (Fincorp) share recorded the highest losses. In corporate news, National Bank of Oman successfully completed the issuance of additional Tier 1 capital bonds worth US$150.4 million compliant with Basel III, while Voltamp Energy signed a joint venture agreement with Gulf Technical Services Company in Saudi Arabia.
Overall, the Muscat Stock Exchange has been performing well, with gains in the main index and positive trading activity. The addition of OQ Exploration and Production to the exchange is expected to further enhance trading. The financial sector index saw the highest gains, and the market value of the exchange rose to OMR24.74 billion by the end of the week. Despite the decline in the bonds and sukuk market, trading value increased in other sectors. OQ Gas Networks was the most traded company in terms of trading value, with a significant portion of the trading value coming from this company. National Bank of Oman and Voltamp Energy also made significant announcements during the week.
