MUSCAT : The recovery was supported by improved investor sentiment following the closure of the public subscription for shares in the Oman India Fertiliser Company (OMIFCO), alongside a return of liquidity to the market and easing selling pressures. Expectations of positive corporate earnings for the first half of the year, due to be announced in the coming days, also contributed to the upward momentum.

All major sectoral indices recorded gains, with 50 securities advancing, led by banks, investment firms, industrial companies, energy, telecommunications and insurance stocks.

The financial sector index rose by 441 points to close at 13,207 points, while the industrial index gained 177 points to reach 9,712 points. The services index climbed to 3,054 points, up 75 points, and the Sharia index increased by 17 points to close at 601 points.

Market activity also strengthened significantly, with trading value rising 52 percent to RO 247.8 million, compared to RO 162.6 million in the previous week. The number of executed transactions increased by 25.2 percent to around 48,000 deals.

Trading was concentrated on banking stocks and companies linked to the OQ Group, as well as telecommunications firms. Bank Muscat led trading activity with RO 54.2 million, followed by OQ Basic Industries with RO 37.7 million, Sohar International Bank with RO 35.6 million, OQ Gas Networks with RO 29.7 million, and Omantel with RO 26.2 million.

Market capitalisation of listed companies increased by approximately RO 667.4 million, closing the week at RO 36.834 billion, driven by gains in leading stocks.

Among the top companies by market value, OQ Exploration and Production remained the largest, valued at RO 3.608 billion, after its share price rose by 24 baisa to close at 451 baisa. Bank Muscat ranked second with a market capitalisation of RO 3.0475 billion, with its share price rising to 406 baisa. Asyad Shipping held third position at RO 1.448 billion, closing at 278 baisa.

In stock performance, Al Maha Ceramics led gainers, rising 15.6 percent, followed by Salalah Mills (14.1 percent), Galfar Engineering and Contracting (14 percent), Aman Real Estate Investment Fund (13.2 percent), and Bank Dhofar (12.8 percent).

On the decliners’ list, Al Hassan Engineering (under liquidation) fell 42.8 percent, while Muscat Insurance dropped 5 percent. Al Madina Investment declined 3 percent, the second issue of Bank Nizwa sukuk fell 2.8 percent, and Oman Arab Bank decreased 2.5 percent.