Business


Muscat bourse grows by 2.5 per cent



Muscat: Muscat Securities Market (MSM) index grew by 2.5 per cent, whereas the market value growth was 5 per cent in the first half of 2014, according to the performance report of the MSM-listed companies.

The market index achieved a positive growth of 150.84 points and 2.54 per cent, while the average daily value traded was OMR10.1 million.

The report further stated that the Muscat Securities Market's value has grown from OMR14.2 billion to OMR14.9 billion at the rate of 5 per cent, as a result of the recent initial public offering (IPO) of Al Batinah Power and Al Suwadi Power.

At the level of sectorial performance analysis, it is observed that the performance of the financial sector, especially banking stocks were the best among the other sectors, whereas all the shares of these banks witnessed positive growth with the exception of one of the six top banks.

The second best performing companies were from the energy sector. All these companies have achieved positive growth, while most companies show indicators of the industrial sector's modest performance during the year, the report said.

The performance of MSM in the first half of this year was influenced by the performance of financial markets. It is worth mentioning that the total number of transactions in the first half of this year amounted to 229,900.

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