MUSCAT : The main MSX index surged to 5,961 points during trading on December 9, ts best level since mid-May 2016, before closing Thursday at 5,949 points.

This marked a weekly gain of 88 points, supported by price increases in 64 listed securities and broad-based strength across all sector indices.

The financial sector led the rally, with its index jumping 337 points, followed by the industrial sector, which gained 223 points. The services sector rose by 50 points, while the Sharia index advanced by around 12 points, reflecting widespread investor confidence.

Market capitalisation climbed to RO 32.199 billion by the end of last week’s trading, recording weekly gains of RO 213.6 million.

Despite the positive performance, trading value slipped by 7.5 percent week-on-week but remained close to the RO 200 million mark, underscoring sustained interest in leading stocks, particularly in the banking, industrial and OQ Group sectors. Total trading value reached RO 199.4 million, compared to RO 215.7 million the previous week, while the number of executed transactions declined slightly to 25,108 from 25,620.

Bank Muscat dominated trading activity, accounting for 19.3 percent of total turnover with trades worth RO 38.6 million. Sohar International Bank followed with RO 30.1 million, while OQ Basic Industries ranked third at RO 26.9 million. OQ Exploration and Production posted trades worth RO 26.4 million, and Asyad Shipping rounded out the top five with RO 21.5 million, representing 10.8 percent of total trading value.

On the gainers’ board, the building materials industry stock led the advance, surging 21.2 percent to close at 80 baisa. Oman Arab Bank rose 17.3 percent to 176 baisa, while National Gas climbed 11.7 percent to 95 baisa. Voltamp Energy gained 11.2 percent to close at RO 1.40, and Ahli Bank advanced 11.1 percent to 170 baisa.

Meanwhile, prices of 10 securities declined during the week. Lifa’s mandatory convertible bonds issued in 2024 recorded the steepest fall, dropping 20 percent to close at 72 baisa. Dhofar Food and Investment fell 5.4 percent to 70 baisa, Lifa Group slipped 5 percent to 285 baisa, Galfar Engineering and Contracting declined 2.9 percent to 65 baisa, while Bank Dhofar eased 1.9 percent to 149 baisa.

In corporate developments, Al Anwar Investments’ Extraordinary General Assembly approved an increase in the company’s authorised capital from RO 30 million to RO 50 million. The firm’s current paid-up capital stands at RO 27.2 million. Earlier this year, the company issued preferential rights shares worth RO 5.076 million at 66 baisa per share, which were listed on the Muscat Stock Exchange on March 13. In June, Al Anwar distributed bonus shares at a rate of 4 percent, following a 3 percent distribution in 2024.

For the first half of its current fiscal year, ending next March, Al Anwar Investments reported net profits of RO 130,000, down from RO 588,000 in the same period of the previous fiscal year. The company’s share closed last week at 101 baisa.

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