Muscat: Energy companies took centre stage in the bustling trading environment, with transactions exceeding RO 7.3 million, representing 31.2% of the total trading value. Notable players in this sector include SMN Power Holding, Al Suwadi Energy, and Al Batinah Energy, which drive significant market activity.

Investors directed their focus towards Al Anwar Investments Company, eagerly anticipating its upcoming annual financial results, which are due within the next two weeks. The company’s positive trajectory was evident, having recorded net profits of RO 556 thousand until December, a stark contrast from the RO 879 thousand in losses during the same period last fiscal year. This interest translated into the execution of 291 transactions amounting to RO 1.444 million, culminating in the stock’s closure at 86 baisas, marking a sixteen baisas increase for the week.

The trading landscape also witnessed Oman and Emirates Holding Company emerge as the most traded entity by volume, with 37 million shares changing hands, while SMN Power Holding led in trading value with transactions totalling RO 2.4 million.

Despite this upbeat scenario, the market experienced declines in several companies that had recently distributed dividends to shareholders. This downturn impacted the main index and sectoral indices, resulting in the main index’s drop by 118 points to close at 4673 points, with the financial and industrial sectors recording notable decreases.

Overall, the Muscat Stock Exchange showcased a dynamic and vibrant trading week, with price fluctuations affecting various securities. Noteworthy gainers included Barka Water and Power, Dhofar Electricity Generation, and Majan Glass, while Oman Cement and Al Jazeera Steel Products faced declines.