Muscat: The increase was fueled by special deals on Ahli Bank shares, which accounted for RO 162.7 million—69.3% of total trading value.
The market boost followed the Bahraini Ahli United Bank’s sale of its 35% stake in the National Bank, with 17.5% acquired by the Royal Court Affairs and the remainder distributed among Omani investors.
February’s trading also saw heightened investor interest in Asyad Shipping Company’s IPO, which offered 20% of its capital for public subscription. This move came shortly after OQ Basic Industries was listed in December, putting liquidity under pressure as investment funds and institutions worked to absorb sales from individual subscribers.
Despite the trading surge, MSE indices struggled, with the exception of the industrial sector, which climbed 422 points. Other indices recorded losses:
Main index: Down 107 points to 4,435
Financial sector: Fell 84 points
Services sector: Dropped 59 points
Sharia index: Lost 8 points
Additionally, the market value of MSE declined to RO 27.31 billion, losing RO 228.7 million in February. The number of executed deals also fell by 21%, from 22,000 to 17,347 transactions.
Gaining Stocks:
Al Jazeera Steel Products (+25%, closing at 390 baisas)
Oman Cement (+24%, closing at 491 baisas)
Building Materials Industry (+20%, closing at 82 baisas)
Voltamp Energy (+19.8%, closing at 599 baisas)
Losing Stocks:
Oman Cables Industry (-11.6%, closing at OMR 2.430)
Ooredoo (-10.3%, closing at 200 baisas)
Muscat Gas (-10%, closing at 90 baisas)
Ahli Bank’s Board of Directors approved an issuance of preferential rights shares worth RO 50 million at 142 baisas per share to strengthen capital and support business growth. Regulatory approvals are awaited before further announcements.
The 73rd issue of government development bonds worth RO 100 million was listed last month, with an annual interest rate of 4.6%.
Investors concentrated their trades on:
OQ Exploration and Production (RO 13.8 million)
Eighth sovereign sukuk issue (RO 10.3 million)
OQ Basic Industries (RO 5.2 million)
Bank Muscat (RO 4.4 million)
