
Muscat: Trading value on the Muscat Stock Exchange rose during January and February of this year to OMR2.1 billion compared to OMR309.8 million in the same period last year. Transactions executed also recorded record levels exceeding 219,000.
Haitham bin Salem Al Salmi, CEO of the Muscat Stock Exchange, attributed the exchange’s good performance to the noticeable improvement in the Omani economy, noting that economic indicators show that the national economy is on a positive path, supported by an improved credit rating, the continued implementation of development projects, and rising oil prices.
He told the Oman News Agency that liquidity is one of the main factors in achieving the fair value of shares on the stock exchange, as its availability contributes to enhancing buying and selling operations, enabling the seller and buyer to determine prices with great accuracy.
He added that what the Muscat Stock Exchange witnessed during the past period mainly reflects the balance of supply and demand in traded shares.
He explained that the stability of the market at certain levels is linked to the size of the available liquidity and the diversity of investments, in addition to the ability of investors to move between different investment instruments. He further noted that the presence of investment funds, such as the listing of the Oman Gateway Fund last week, will contribute to enhancing the attractiveness of the market and expanding opportunities for investors to enter.
He pointed out that the average liquidity traded on the Muscat Stock Exchange reached about OMR55 million during the first two months of this year, which is a good level for the local market.
He stated that the seller and buyer must determine the fair price of shares according to supply and demand levels, indicating that most companies listed on the Muscat Stock Exchange have witnessed an improvement in their financial performance, whether in terms of profits, financial data, or the projects they implement.
He explained that during the past period, work was done to remove the challenges that may hinder investors from entering the Muscat Stock Exchange, by enhancing liquidity and providing diverse investment financial instruments, which makes the market more attractive, especially for foreign investors who pay great attention to liquidity levels.
The CEO of the Muscat Stock Exchange confirmed that the exchange is continuing its efforts to complete the procedures for its upgrade within global indices, and the upgrade process depends mainly on market size, market value and trading levels.