Trading value on the Muscat Stock Exchange rose to OMR1.2913 billion in October, up from OMR914 million in September and OMR976 million in August, the Oman News Agency reported on Saturday.
It was the exchange’s highest monthly trading value since April, the agency said.
Market-making funds, a liquidity development fund and local institutional investors drove the buying. The agency also cited improved third-quarter results at listed companies and the exchange’s addition to FTSE Russell’s watch list for a possible upgrade from frontier to secondary emerging market status.
The number of executed trades rose to more than 294,000, the highest monthly count this year, from 199,000 in September. About 4.2 billion securities changed hands, compared with 3.3 billion in September.
Prices fell even as activity rose. The main index ended October at 7,346 points, down 220 points, after a 37-point drop in September.
The financial sector index fell 235 points to 13,371. The industrial index lost 99 points to 9,713, and the services index dropped 58 points to 2,950.
Total market value fell by OMR640.3 million from September to OMR38.589 billion. Sixty securities declined, 38 rose and 14 were unchanged.
Sohar International Bank was the most traded stock by value, at OMR229.5 million, or 17.7% of the total. Omantel followed with OMR202.1 million, ahead of OQ Basic Industries at OMR180.6 million, OQ Exploration and Production at OMR170.4 million and Bank Muscat at OMR163.6 million.
National Gas Company led gainers with a 35.5% rise to 160 baisas, and Sohar Power rose 34.7% to 256 baisas. Phoenix Power posted the steepest fall, down 28.6% to 202 baisas, while Oman Arab Bank dropped 25% to 255 baisas.
Trading in bonds and sukuk rose to OMR24.4 million in October from OMR779,000 in September.
