MSX: Monthly trading value more than doubles to RO468mn in July

04/08/2025 02:38 AST

The Muscat Stock Exchange (MSX) recorded several gains in July, with monthly trading value more than doubling to RO467.8mn - marking the highest trading value so far this year.

This increase was driven by greater buying activity from local investment funds and institutions amid optimistic expectations for further improvement in the performance of public joint-stock companies, which reported stronger financial results and higher net profits in the first half of this year.

Trading value surged by 103.9% in July compared to RO229.4mn in June 2025. The number of transactions executed increased by 42.1%, reaching 49,030 transactions compared to 34,489 in June 2025. The market capitalisation of the Muscat Stock Exchange gained RO862.2mn in July, rising to RO29.132bn by the end of the month.

Investors focused last month's trading on OQ Basic Industries, which recorded trading of approximately RO111.8mn, representing 23.9% of the total trading value. Bank Muscat came second, with RO90.1mn in trading. Asyad Shipping recorded trading of RO54.1mn, while Sohar International saw trading of RO48.3mn. OQ Gas Networks registered RO36.9mn in trading, representing 7.9% of the total.

In July, the prices of 61 stocks rose, 39 declined, and 13 remained unchanged. Sembcorp Salalah led the gainers, rising 54.3% to close at 159bz. Fincorp Financial Centre rose 45.1%, closing at 45bz. Dhofar Generating Company climbed to 77bz, up 37.5%. Ooredoo rose 33% to close at 250bz. Muscat Insurance increased to 873bz, marking a 32.2% gain.

Oman Chlorine led the losers, falling 20% to close at 240bz. National Aluminium Products declined by 15%, closing at 85bz. Barka Water and Power Company dropped 10.5% to 179bz.

Last month also witnessed the subscription to the pre-emptive rights issue offered by Ahlibank to its shareholders from July 24 to July 28, valued at RO50mn. This was aimed at increasing the bank's capital to RO294.9mn. July also saw the delisting of Oman Investment and Finance Company following its merger with Dhofar International Development and Investment Company.

Public joint-stock companies announced several positive developments during the month. Asyad Shipping disclosed that it had received a new 308,000-tonne crude oil tanker as part of a $206mn deal to acquire two such tankers.

Liva Group, Oman's leading insurance company, announced that it had restructured and consolidated its existing loans into a new RO63mn credit facility with Sohar International. The restructuring offers the company various benefits, including lower borrowing costs, improved cash flow management, and greater flexibility in capital allocation.

OQ Exploration and Production announced that, beginning August 9, it would commence a share buyback programme for between 45mn and 60mn shares listed on the MSX. This move is aimed at boosting market and shareholder confidence in the strength of the company's stock and its financial and operational performance. The company's stock rose by 12bz last month, closing at 333bz after 5,827 transactions valued at RO36.1mn.

Muscat Daily