Muscat: The market capitalization of Muscat Securities Market (MSM) shed QMR 55.9 million to reach OMR 32.143 billion by the close of last week's trading.

According to Qatar News Agency, the market came under pressure from profit-taking sales, which weighed on a number of blue-chip stocks and trimmed earlier gains. As a result, share prices of 39 securities declined, compared with 36 that advanced, while 20 securities closed unchanged. Losses among leading stocks dragged the main index down by 8 points to close at 5,941 points, although it remains at its highest level in nine years.

The financial sector index posted the steepest losses, falling by 70 points after losing support from banks and investment companies. In contrast, the Sharia-compliant index rose by two points to close at 524 points.

Industrial companies listed on the Muscat Stock Exchange extended their gains last week, supported by positive sentiment surrounding the signing of the Comprehensive Economic Partnership Agreement with India. The agreement is expected to boost bilateral trade, create new opportunities for Omani industrial firms to export to Indian markets, and benefit from reduced trade barriers.

Gains in industrial stocks pushed the industry sector index above the 7,700-point level, rising by 76 points to close at 7,772 points.

Trading value also increased last week, driven by higher purchases from local funds, investment companies, and Omani retail investors. Total trading value rose to OMR 210.8 million, compared with OMR 199.4 million in the previous week, marking an increase of 5.7 percent. Meanwhile, the number of executed trades declined from more than 25,000 to 19,300, as investors focused on stocks with larger market capitalizations.