Rise in local trades at Muscat last week
Muscat Stock Exchange experienced an increase in domestic purchases over the past week, with the total trading value exceeding 154 million Omani rials compared to 125 million in the previous week. This was driven by interest from individual investors and local funds to buy, amid expectations that declining stock prices will enhance performance in the upcoming period, especially following the rise in the profits of listed companies in the first half of the year. Nevertheless, the indices recorded a decline, as the main index dropped by 363 points to close at 7,117 points, with the market value decreasing to 37.17 billion Omani rials. Weekly losses amounted to 878 million rials, amid selling pressures on many stocks. Additionally, the week saw growing interest in Bank Muscat and Bank Dhofar shares, with high trading volumes, while some companies like Oman and Emirates Investment Holding and Aseer Shipping were among the biggest losers.
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