MUSCAT : The main index rose by 140 points during the week to close at 7,508 points, its strongest level since July 15. All sectoral indices ended higher, led by the financial sector, which gained 190 points to close above 13,150 points.

The industrial sector added 75 points to reach 9,517 points, while the services index rose around 2 per cent, or 57 points, to the 3,000-point level. The Sharia index gained 12 points to close near 600 points.

Investor sentiment was supported by the completion of first-half financial results and announcements of interim dividend distributions by OQ Exploration and Production, Asyad Shipping and Pearl Real Estate Investment Fund.

Investors are also awaiting further details from Al Anqa Energy, which announced last month that it intends to distribute a special cash dividend of 81 baisa per share after refinancing its existing facilities through local banks. The company is auditing its financial statements for the period ending June 30 before calling an Ordinary General Meeting to consider the proposal, subject to the required approvals.

The positive sentiment lifted several leading stocks, including Abraj Energy Services, Oman International Development and Investment Company (Ominvest), OQ Exploration and Production, Al Anqa Energy, National Bank of Oman, Omantel, OQ Basic Industries, Al Jazeera Steel Industries and Sohar International Bank.

The exchange added around RO 360.7 million in market value during the week, taking total market capitalisation to RO 38.1899 billion.

Trading activity, however, moderated. Total trading value declined by 7 per cent to around RO 246.1 million, compared with RO 264.5 million in the previous week. The number of executed transactions also fell by 6.2 per cent to 41,760, from more than 44,000 a week earlier.

Sohar International Bank topped trading by value, with transactions worth RO 50.5 million, accounting for 20.5 per cent of total market turnover. Bank Muscat followed with RO 42.3 million, while OQ Basic Industries recorded RO 37.1 million.

Omantel ranked fourth with RO 32 million in trades, followed by OQ Exploration and Production with around RO 30.2 million, representing 12.2 per cent of total trading value.

A total of 37 securities recorded price gains during the week. Oman Packaging rose 10 per cent to close at 220 baisa, while Abraj Energy Services gained 9.9 per cent to 398 baisa.

Ominvest advanced 8.9 per cent to 425 baisa, Al Anwar Ceramic Tiles gained 7.6 per cent to 140 baisa, National Detergents rose 4.6 per cent to 650 baisa, and OQ Exploration and Production increased 4.4 per cent to close at 470 baisa.

Meanwhile, 34 securities ended lower. Oman Finance Free Bonds 2022 recorded the sharpest decline, falling 13 per cent to 87 baisa. Al Madina Investment Holding dropped 11.4 per cent to 62 baisa, while Sohar Power fell 9 per cent to 220 baisa.

Takaful Oman Insurance declined 4.7 per cent to 60 baisa, while Al Sharqiyah Desalination also fell 4.7 per cent to close at 161 baisa.

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