Muscat: The rally reflects renewed investor confidence and sustained institutional demand for leading stocks. The index had already crossed the 6,000-point level by January 5 this year and continued its upward trajectory, supported by consistent buying activity and improved market sentiment.
All sectoral indices recorded gains during the week. The financial sector led the surge, climbing 12.3 percent to close above 12,460 points after adding 1,365 points. The rise was fueled by strong performance in banking and investment stocks, with shares of Bank Sohar International, Bank Muscat, and Bank Nizwa reaching new record levels, while other banks and financial firms strengthened their positions.
The services sector index advanced 8.2 percent to close at 2,762 points, gaining 210 points on the back of gains in telecommunications, energy and services stocks. Industrial stocks also supported the overall momentum, pushing the industrial index up by nearly 400 points to end the week at 9,430 points, a 4.4 percent increase. Meanwhile, the Sharia index rose 7.9 percent to close at 639 points, up 47 points during the week.
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The strong performance was mirrored in market capitalization, which increased by more than RO 1.856 billion, ending the week at RO 35.754 billion.
Trading activity witnessed a significant upswing. The total trading value jumped by 74 percent to reach RO 377.2 million, compared to RO 216.9 million the previous week. The number of executed transactions rose by 57 percent, exceeding 39,000 deals.
Investors heavily targeted shares of Bank Sohar International, OQ Basic Industries, and OQ Exploration and Production, which together accounted for more than 55 percent of total trading value. Bank Sohar International led with trades worth RO 77.2 million, followed closely by OQ Basic Industries at RO 76.8 million and OQ Exploration and Production at RO 57.1 million.
Shares of Omantel also saw strong trading activity valued at RO 40.1 million, representing 10.8 percent of total trading value, while Bank Muscat ranked fifth with RO 39.7 million in trades.
Market breadth remained positive, with 68 securities advancing compared to 11 decliners, while 19 stocks closed unchanged.
The National Aluminum Products Company posted the highest gain of the week, soaring 42.2 percent to close at 192 baisa. Bank Sohar International rose 26.2 percent to 221 baisa, while Salalah Mills climbed 25.8 percent to 516 baisa. International Financial Investments Holding gained 25.5 percent to close at 295 baisa, and Financial Services advanced 23.7 percent to 99 baisa.
On the downside, Al Batinah Development and Investment led the losing stocks, declining 23.3 percent to close at 69 baisa. Muscat Gases fell 3.7 percent to 130 baisa, Oman Chlorine declined 2.1 percent to 228 baisa, Oman Cement dropped 1.6 percent to 489 baisa, and Oman Refreshments eased 1.4 percent to close at RO 1.380.
