Muscat: The Muscat Stock Exchange witnessed a buoyant week as investors reacted positively to initial financial disclosures for the first half of the year. Notably, Sembcorp Salalah reported a substantial rise in profits to RO 11.4 million, up from RO 10.5 million in the same period last year. Similarly, Oman Cables Industry saw its net profits climb from RO 9.4 million to RO 11 million, underscoring a strong performance in the industrial sector.

However, not all sectors fared equally well. Al Anwar Investments reported a decline in net profits to RO 679 thousand from RO 947 thousand, reflecting market challenges. Oman Refreshments Company also faced losses amounting to RO 2.3 million in the first half of this year, contrasting sharply with profits of RO 2.8 million in the previous year.

Despite these fluctuations, the overall market value of listed securities rose to RO 24.373 billion by the end of last week, registering weekly gains of RO 21.9 million. This positive momentum coincided with listing units from the “Jabal Real Estate Investment Fund,” further boosting investor confidence.

Trading activity, however, was cautious, with 2,156 deals executed last week, marking the lowest weekly level since April. Similarly, the trading value fell to RO 7.6 million, the lowest this year, as investors awaited more comprehensive financial disclosures.

In sector-specific movements, the financial sector index rebounded with a 28-point gain after four weeks of losses, while the industrial and services sectors experienced declines of 46 and 5 points, respectively. The Sharia index also recorded a minor dip of 9 points.

Looking ahead, public joint-stock companies are expected to complete their preliminary financial disclosures for the period ending June 30, which will continue to shape market dynamics in the coming weeks.

Amidst these developments, Packaging Company Limited announced plans to convert from a public joint-stock company to a closed company, pending regulatory approval.