MSX transactions rise to RO 36.9 million last week

MUSCAT: The trading value on the Muscat Stock Exchange (MSX) rose last week to RO 36.9 million , compared to about RO 19.4 million in the previous week, benefiting from investors’ interest in the shares of a number of leading companies listed in the banking and communications sectors, in addition to the rise in trading in the bond and sukuk market.

Statistical data issued by MSX indicated an increase in trading in Omantel shares, which witnessed trades worth RO 6.8 million, representing 18.4 per cent of the total trading value.

Bank Muscat witnessed trades worth RO 6.2 million, and Al Nahda Services ranked third with trades at RO 4 million. Sohar International Bank came in fourth place with RO 3.5 million, while Ooredoo ranked fifth with trades amounting to RO 2.5 million.

The five companies accounted for about 63 per cent of the total trading value witnessed by the stock exchange last week.

The increase in demand for the shares of these companies came as local investment companies and funds tended to strengthen their portfolios, focusing on the shares of a number of leading companies after the

The increase in demand for the shares came as local investment companies and funds tended to strengthen their portfolios. appearance of the financial results for the first quarter, which showed growth in profits and improvement in performance.

Purchases by local investment institutions and funds during the past week accounted for about 77 per cent of the total trading value, compared to sales of 75.8 per cent of the total trading.

Local individual investors also showed interest in purchasing during the past week amid positive expectations for the performance of most public joint-stock companies listed on the stock exchange.

The main index rose 3 points after three weeks of rise and closed at 4,713 points, while the financial sector index recorded a decline of 78.8 points, affected by the decline in bank stocks and a number of investment companies.