Muscat: The market’s retreat came amid profit-taking by local funds and institutions, which turned net sellers last week, accounting for 75.1 percent of total sales compared to 69 percent in purchases. In contrast, individual Omani investors emerged as net buyers, representing 21.1 percent of the total trading value.

All key sectoral indices, except the Sharia index, posted losses. The financial sector led the decline, falling by 153 points as bank and leading investment stocks weakened. The industrial index slipped by 23 points and the services index dropped by 13 points, while the Sharia index edged up by 4 points to close at 475.

Trading activity cooled significantly, with total trading value plunging by 34 percent to RO 178.8 million from RO 271.1 million the week before. The number of executed transactions fell by 16.8 percent to 32,628. Market activity was largely concentrated in shares of Bank Muscat, Bank Sohar International, OQ Basic Industries, OQ Exploration and Production, and Asyad Shipping, together accounting for 77 percent of total turnover at RO 137.8 million.

Despite the weekly decline, the total market capitalization held steady at RO 31.327 billion, buoyed by the listing of the 77th issue of government development bonds worth RO 100 million.

The week also marked the launch of the new Promising Companies Market, with Bawariq Nizwa becoming its first listed company, debuting at 141 baisa with a capital of RO 1.956 million.

Among the top performers, Financial Centre Company (Fincorp) led gainers with a 16.6 percent jump to 42 baisa, followed by Al Maha Ceramics up 9 percent to 290 baisa, and Oman Refreshments rising 8.9 percent to close at RO 1.492. International Financial Investments Holding fell 10.8 percent to 156 baisa, while Barka Desalination and Al Anwar Investments slipped 4.7 percent and 4.5 percent respectively.