MUSCAT : The main index gained more than 100 points over the week, its best performance since January 2018, driven by strong showings in banking, energy, industrial, investment, and petroleum product marketing companies.

All sectoral indices recorded gains: the financial sector index jumped more than 200 points, while the services sector rose 71 points, the industrial sector added 67 points, and the Shariah index climbed to 475 points.

Market breadth was positive, with prices of 44 securities rising, 20 declining, and 23 remaining unchanged. This momentum added RO 291 million to MSX’s market value, which closed the week at RO 29.944 billion, aided by both stock gains and the listing of the 76th government development bonds worth RO 90 million.

Trading activity also strengthened. Weekly trading value rose to RO 136.9 million, up 9.5% from RO 125 million the week before, while the number of executed deals climbed 15.6% to 11,800.

Sohar International Bank topped trading with RO 32.3 million in value, 23.5% of the total, followed by Bank Muscat (RO 18.2 million), OQ Basic Industries (RO 15.1 million), National Bank of Oman (RO 14.4 million), and OQ Gas Networks (RO 13.6 million).

Among top performers, Sembcorp Salalah surged 16.7% to close at 195 baisas, Phoenix Energy rose 11.3%, Al Anwar Investments 10.8%, National Bank of Oman 7.1%, and Oman Oil Marketing Company 6.6%. On the downside, Aman Real Estate Investment Fund fell 7.7%, United Finance Bonds 7.4%, and Dhofar International Development and Investment 2.7%.

In corporate developments, OQ Exploration and Production announced the launch of an advanced processing plant expansion at the Bisat field. The upgrade boosts the plant’s capacity to 777,000 barrels of liquids per day, including 67,000 barrels of oil.

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