MSX sees trading of $.1.bln in the first half of 2023

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Muscat: The Muscat Stock Exchange recorded the first decline in trading value after two years of recovery in the first half of 2023 by falling to OMR 426.3 million compared to OMR573.6 million in the first half of last year and OMR468.2 million in the first half of 2021.

Trading in the first half of this year fell below the level of investors' ambition amid a state of calm, and the exchange is working during the current period to restore activity to the stock exchange through six initiatives aimed at attracting investors, increasing liquidity levels and stimulating trading.

In the first half of this year, the Muscat Stock Exchange witnessed the listing of Abraaj Energy Services Company, which attracted investors and contributed to raising the trading value in March and April. The month of April witnessed the best value of trading during the current year at OMR122.4 million, but trades declined after that to OMR59.6 million in May and to OMR52.8 million in June.

Trading in the second quarter of this year showed an increase of 22.7 percent in the trading value, which rose to OMR234.9 million Omani, compared to about OMR191.4 million in the first quarter of this year.

In the first half of this year, the Muscat Stock Exchange recorded an increase in the number of deals executed, which jumped to about 78,000 deals, compared to 73,362 in the same period of 2022. The market value of companies listed on the stock exchange during the first half of this year recorded gains of OMR207.1 million to OMR23.94 billion at the end of June.