16 June 2013
Muscat: The Muscat Securities Market (MSM) has achieved a marked growth in turnover, with the local bourse crossing the entire 2012 turnover of OMR1.067 billion within the first five-and-a-half months in 2013. In other words, it took only 118 trading sessions, ending on Thursday, for MSM to cross this milestone, thanks to mega block deals, increasing participation of retail investors and inflow of foreign portfolio investment.
Further, the trading so far showed that the stock market took only 112 days to cross OMR1-billion-mark turnover. This is the first time MSM turnover has crossed this level in less than 6 months after the surge in 2008, the United Securities said in a note.
The average turnover in the last three months exceeded OMR10 million, while total average monthly turnover touched OMR210 million. "The daily average turnover has increased to OMR9.1 million year-to-date from OMR4.45 million in 2012, indicating a 100 per cent growth," said Santhosh Balakrishnan, equity research analyst at United Securities.
Apart from growing investor confidence in the market, block deals have aided the growth in turnover. OIFC has increased its stake in Bank Sohar by completing its announced 15 per cent holding in the bank.
GDF Suez's Sohar Power divestment accounted for OMR14 million turnover.
Omani retail investors
The United Securities said that the local retail investors have contributed 41 per cent of total trading turnover on a year-to-date basis. Foreigners were net buyers with OMR50 million, while GCC and Omani were net sellers with Omani accounting to OMR23 million followed by GCC with OMR27 million worth of sales in shares.
The contribution of Omani retail investors has increased to 37 to 39 per cent of total turnover, a scenario witnessed for the first time since 2009, while that of institutions accounted to 41 to 43 per cent of total turnover. The top five contributors to the turnover included Bank Muscat (OMR94 million), Gulf Investment Services (OMR75 million), OIFC (OMR71.5 million), Bank Sohar (OMR46.2 million) and Oman Telecommunications Company (OMR38.7 million). The two blue chip firms -- Omantel and Bank Muscat -- were able to retain the status in the top five held since 2010, but new entrants to the top five were GIS and OIFC.
Likewise, companies that witnessed remarkable improvement in volume this year so far were Oman and Emirates (206 million shares year to date), Transgulf (257 million shares), GIS (525 million shares), and OIFC (245 million shares).
Muscat: The Muscat Securities Market (MSM) has achieved a marked growth in turnover, with the local bourse crossing the entire 2012 turnover of OMR1.067 billion within the first five-and-a-half months in 2013. In other words, it took only 118 trading sessions, ending on Thursday, for MSM to cross this milestone, thanks to mega block deals, increasing participation of retail investors and inflow of foreign portfolio investment.
Further, the trading so far showed that the stock market took only 112 days to cross OMR1-billion-mark turnover. This is the first time MSM turnover has crossed this level in less than 6 months after the surge in 2008, the United Securities said in a note.
The average turnover in the last three months exceeded OMR10 million, while total average monthly turnover touched OMR210 million. "The daily average turnover has increased to OMR9.1 million year-to-date from OMR4.45 million in 2012, indicating a 100 per cent growth," said Santhosh Balakrishnan, equity research analyst at United Securities.
Apart from growing investor confidence in the market, block deals have aided the growth in turnover. OIFC has increased its stake in Bank Sohar by completing its announced 15 per cent holding in the bank.
GDF Suez's Sohar Power divestment accounted for OMR14 million turnover.
Omani retail investors
The United Securities said that the local retail investors have contributed 41 per cent of total trading turnover on a year-to-date basis. Foreigners were net buyers with OMR50 million, while GCC and Omani were net sellers with Omani accounting to OMR23 million followed by GCC with OMR27 million worth of sales in shares.
The contribution of Omani retail investors has increased to 37 to 39 per cent of total turnover, a scenario witnessed for the first time since 2009, while that of institutions accounted to 41 to 43 per cent of total turnover. The top five contributors to the turnover included Bank Muscat (OMR94 million), Gulf Investment Services (OMR75 million), OIFC (OMR71.5 million), Bank Sohar (OMR46.2 million) and Oman Telecommunications Company (OMR38.7 million). The two blue chip firms -- Omantel and Bank Muscat -- were able to retain the status in the top five held since 2010, but new entrants to the top five were GIS and OIFC.
Likewise, companies that witnessed remarkable improvement in volume this year so far were Oman and Emirates (206 million shares year to date), Transgulf (257 million shares), GIS (525 million shares), and OIFC (245 million shares).
© Times of Oman 2013
