
Muscat: The Muscat Stock Exchange recorded an increase in the daily trading during the week, which rose to OMR28.7 million compared to OMR26.9 million in the previous week. Omani individual investors turned to buying, taking 16.3 percent of the total trading value compared to sales of 10.5 percent.
Meanwhile, local investment funds and institutions turned to selling during the week, with their sales accounting for 84.4 percent of the total trading value, compared to purchases of 75.3 percent.
The week saw three trading days, as the stock exchange was closed for the glorious National Day holiday on Wednesday and Thursday. The value of trading in the three days amounted to OMR86.1 million and 12,491 transactions were executed during the week.
Investors targeted shares of Bank Muscat and Bank Sohar International, which accounted for more than 48 percent of the total trading value. Bank Muscat shares saw trading worth OMR27.8 million, representing 32.3 percent of the total trading value, while Bank Sohar International shares saw trading worth more than OMR14 million, representing 16.3 percent of the total trading value.
Shares of OQ Group also witnessed investor interest, with OQ Exploration and Production shares trading at a value of OMR11.7 million, representing 13.6 percent of the total trading value. Trading value for OQ Basic Industries shares reached OMR8.2 million, while OQ Gas Networks shares saw trading at more than OMR6 million, accounting for about 7 percent of the total trading value.
The Muscat Stock Exchange indices showed mixed performance during the week. While the financial sector index and the industrial index recorded gains of 50 and 39 points respectively, the other indices declined by 12 points for the services sector index, 3 points for the Sharia index, and 11 points for the main index, which closed at 5635 points, marking a decline for the second week in a row.
The market capitalisation of the Muscat Stock Exchange at the close of trading session during the week reached OMR31.38 billion, recording limited losses of OMR1.6 million.
During the week, the prices of 32 securities rose, compared to 27 securities whose prices declined and 26 securities that remained unchanged at their previous levels. Salalah Port Services stock recorded the best rise, increasing by 10 percent and closing at 330 baisa. International Financial Investments Holding stock rose by 9.7 percent and closed at 181 baisa. Oman Finance Free Bonds issued in 2020 recorded an increase of 6.6 percent and closed at 80 baisa.
The Financial Services stock led the losing stocks, declining by 9.3 percent and closing at 116 baisa. Dhofar Food and Investment stock also declined by 9.3 percent and closed at 68 baisa, while Al Anwar Investments stock recorded a decline of 3.9 percent and closed at 98 baisa.
In company news: The National Mineral Water Company announced the completion of the subscription to its bonds, amounting to OMR4 million, at an issue price of one Omani riyal per bond. The company noted that the bonds have a term of 7 years, are unsecured and non-convertible, and carry a fixed return rate of 8 percent payable semi-annually.
This release represents an important milestone in the company's performance development plan, supporting its long-term goals and directing returns towards strengthening the financial position and supporting initiatives aimed at improving operational performance and achieving sustainable growth.
Majan College Company invited its shareholders to attend the Annual General Meeting scheduled for December 11. The meeting will include a proposal to distribute cash dividends of 7.2 baisa per share and to distribute bonus shares to shareholders at a rate of 10 percent of the capital, equivalent to one share for every 10 shares. This distribution will increase the company’s capital from OMR9 million to OMR9.9 million.