Muscat – The main index of the Muscat Stock Exchange (MSX) rose by 84 points in August after two months of decline, benefiting from investor interest in buying shares of leading companies that had recorded significant declines in July and June.

The main index closed at 4,746 points at the end of August trading, marking the highest closing level since June 6, according to an Oman News Agency report.

The financial sector index increased by about 98 points, while the services sector index rose by 4 points. In contrast, the industrial sector index declined by 57 points, and the Sharia index fell by about one point.

Trading statistics released by the Muscat Stock Exchange showed a decline in trading value, which dropped to RO45mn in August compared to RO152.3mn in July. The July trading volume was bolstered by significant deals, particularly involving Abraj Energy Services shares, which accounted for RO103.8mn of July’s trades.

The number of transactions executed in August also decreased by 9.7%, falling from 13,862 to 12,517. August trading was marked by investor caution, especially in the first three weeks. However, renewed interest from local investment institutions in the last week of August revived trading.

Bank Muscat led the most traded companies in terms of trading value, with transactions worth RO8.2mn, accounting for 18.3% of the total trading value. OQ Gas Networks followed in second place with RO7.3mn, while Sohar International Bank ranked third with RO5.2mn. Omantel came in fourth with RO3.3mn, and Abraj Energy Services placed fifth with trades worth RO3.2mn, representing 7.2% of the total trading value.

In August, the prices of 35 securities increased, compared to 40 securities whose prices declined, while 22 securities remained stable at their previous levels. Musandam Power recorded the highest gain, rising by 20.3%. Dhofar Insurance saw a 9.5% increase, and Al Anwar Ceramic Tiles rose by 7.6%.

On the downside, Financial Centre was the top loser, dropping 21.6%, while Barka Water and Power fell by 15.4%, and National Gas declined by 13.4%.

The market value of the Muscat Stock Exchange rose by the end of August trading to RO24.558bn, recording gains of RO201.8mn during the month. This increase was supported by the rise in the market value of closed companies, which climbed to RO10.842bn, gaining RO65mn.

The market value of the bonds and sukuk market recorded gains of RO17.8mn in August, rising to RO4.420bn by the end of August trading.

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