Muscat Stock Exchange stocks bounce back as local institutions lead buying spree

Muscat: This renewed activity helped lift 34 stocks, compared to 28 gainers the previous week, signaling improved investor sentiment ahead of Eid al-Fitr and the Q2 trading season.

Sales made up 56.6% of last week’s trades, while the number of executed transactions surged by 28.7% to approximately 5,800, up from 4,500 the week prior.
Investor attention was notably drawn to key players:
OQ Gas Networks rose 1.5% to 133 baisas, with 725 transactions

OQ Exploration and Production gained 3.5% to 320 baisas from 659 transactions

OQ Basic Industries saw 570 transactions

High trading volumes were also recorded for Bank Sohar International, Bank Muscat, and Asyad Shipping.

Despite broader stock gains, the main MSX index slipped 43 points, closing at 4,367 points. Sector indices also declined:

Financial sector: -29 points

Industrial sector: -120 points

Services sector: -7 points

Shariah index: -8 points, closing at 384 points

The market value of the exchange dipped by RO 15.1 million, settling at RO 27.638 billion by Thursday’s close. Trading volume also halved, dropping to RO 24.8 million from RO 55.3 million the previous week.

Gains:

Muscat Gases: +26.6% (95 baisas)

Al Anwar Ceramic Tiles: +15.3% (120 baisas)

Al Madina Investment: +9% (48 baisas)

Al Anwar Investments: +8.7% (75 baisas)

Ahli Bank Mandatory Convertible Bonds 2024: +8.5% (102 baisas)

Declines:

Oman Cement: -22.7% (398 baisas)

Al Jazeera Services: -13.3% (156 baisas)

United Finance: -12.3% (57 baisas)

SMN Power Holding: -12.2% (288 baisas)

Leva Group: -10% (270 baisas)

Asyad Shipping led the week in trading value at RO 6.675 million (22.8% of the total), followed by Bank Muscat (RO 3.122 million) and OQ Exploration and Production (RO 2.661 million).