Muscat: The average daily trading volume at MSX reached RO 13.1 million last week, up from RO 11 million the previous week. The surge came despite the market operating only three days due to the holiday break.

OIA-linked companies dominated activity, with OQ Basic Industries leading the charts at RO 7.69 million in trades—19.5% of total weekly value. OQ Gas Networks (RO 6.1 million), OQ Exploration and Production (RO 6.07 million), and Asyad Shipping (RO 4.69 million) followed, collectively accounting for 62.4% of the RO 39.3 million traded during the week.

Local investment institutions were net buyers, contributing to 69.3% of trading value, while also accounting for 65.1% of sales. However, the MSX main index fell by 35 points to 4,543, breaking a six-week streak of gains due to profit-taking. Sector-wise, the industrial index lost 94 points, financials dropped 44 points, services slipped 12 points, and the Shariah index edged down by 3 points to close at 441.

Despite the index dip, the total market capitalization rose by RO 82 million, ending the week at RO 28.88 billion. This increase was largely supported by OQ Exploration and Production’s market cap, which jumped by RO 136 million to reach RO 2.496 billion, with shares closing at 312 baisas. The company also announced an extraordinary general meeting for June 24 to propose an amendment allowing share buybacks.

On the corporate front, Al Anwar Investments called for its AGM on June 30 to review annual performance and propose a 4 baisa per share dividend and 4% bonus shares. Its stock ended the week at 85 baisas, up by 2 baisas with trades worth RO 1.185 million.

Meanwhile, Fincorp Financial Centre announced plans to exit brokerage services and shift toward investment activities, pending shareholder approval at its June 29 EGM.

Also reporting financials, Omani Education and Training Investment Company posted a net profit of RO 7.2 million for the fiscal year through May, up from RO 6.5 million year-on-year.