Muscat: The latest statistical data released by the Muscat Stock Exchange revealed a robust trading environment, with notable increases in trading values for key players in the market. Omantel, one of the leading companies, witnessed trades worth RO 6.8 million, representing a significant portion of the total trading value at 18.4 per cent. Bank Muscat followed closely with trades worth RO 6.2 million, showcasing a strong market presence.

Al Nahda Services, Sohar International Bank, and Ooredoo also made significant contributions to the trading volume, collectively accounting for approximately 63 per cent of the total trading value. This surge in share demand coincided with local investment companies and funds strengthening their portfolios, particularly focusing on companies with positive financial results in the first quarter, indicating growth and improved performance.

Local investment institutions and funds played a pivotal role during the week, accounting for about 77 per cent of the total trading value through purchases. This positive sentiment extended to individual investors, reflecting their optimism regarding the performance of public joint-stock companies listed on the stock exchange.

Sector-wise, the industrial sector index experienced the most substantial rise, driven by companies such as Galfar Engineering and Contracting, Al Jazeera Steel Products, Al Maha Ceramics, and Oman Cement. However, the financial sector index declined 78.8 points due to fluctuations in bank stocks and investment companies.

While the market witnessed gains in the prices of 20 securities, some securities experienced declines, impacting the overall market value, which stood at RO 24 billion and 132 million by the end of the week.

Notably, Galfar Engineering and Contracting garnered investor attention following the announcement of winning a major railway project, enhancing its future prospects and diversification efforts.