Muscat: While the overall movement was modest, strong sectoral performances and increased investor activity highlighted growing momentum in the market.
The industrial sector led the charge with an 84-point jump, followed by the financial sector, which rose 19 points. The Shariah index edged up by 3 points, while the services sector held steady at 1,599 points.
Market capitalization rose by RO 53.3 million, pushing total value to RO 28.274 billion by the end of Thursday’s trading session. Trading volume also climbed 5.2%, reaching RO 68.3 million from the previous week’s RO 64.9 million. However, the number of transactions dipped slightly from 9,389 to 8,626.
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Omani individual investors were active players, accounting for 26.6% of total purchases, slightly ahead of their 25.7% share in sales. The buying streak by local institutions over the past month has bolstered overall trading momentum.
Bank Muscat saw robust demand, peaking at 278 baisas during the week and closing at 275 baisas, up by two baisas. With 583 trades worth RO 12.5 million, the stock represented 18.3% of the total trading value.
Other top performers included OQ Basic Industries (RO 11.4 million in trades), Asyad Shipping (RO 10.2 million), OQ Gas Networks (RO 8.5 million), and Bank Sohar International (RO 8.34 million).
In corporate news, Bank Sohar and Ahli Bank announced the postponement of their merger talks due to pending regulatory approvals. As a result, Ahli Bank confirmed its plan to move ahead with a capital increase via a rights issue worth RO 50 million. Bank Sohar’s shares dipped by one baisa to 139 baisas, while Ahli Bank rose by 3 baisas to 158 baisas, trading 52 transactions worth RO 813,000.
Last week saw price increases in 39 securities, while 26 declined and 22 remained unchanged. Arab Falcon Insurance Company led gainers with a 17.3% rise to 135 baisas, followed by Oman Investment and Finance (up 13.1% to 86 baisas) and Muscat Insurance (up 10% to 660 baisas).
On the downside, Oman Qatar Insurance dropped 9.6% to 196 baisas, Building Materials Industries fell 4.1% to 70 baisas, and Dhofar Insurance slipped 3.9%.
