Muscat: The main index of the Muscat Stock Exchange recorded last week its best level in nearly eight years, driven by increased market confidence, higher trading volumes and values, and a rise in the number of transactions, along with a surge in market capitalization nearing the OMR 30 billion mark.
According to Qatar News Agency, the main index closed at 5,062 points, rising by more than 100 points, its highest level since January 15, 2018, supported by gains in bank and energy stocks, as well as several industrial, investment, and oil product marketing companies.
Sectoral indices saw collective gains, led by the financial sector index, which rose by more than 200 points, while the services sector index increased by about 71 points, and the industrial index by 67 points. The Sharia index also rose to 475 points, posting weekly gains of 4 points.
The positive performance coincided with a rise in the share prices of 44 companies, compared to a decline in 20 companies, while 23 companies remained unchanged.
These increases contributed to a rise in the market capitalization of the exchange by about OMR 291 million, ending the weekly trading at OMR 29.944 billion, approaching the 30 billion mark.
The market also benefited from the listing of the 76th issuance of government development bonds worth OMR 90 million.
Trading value also rose to OMR 136.9 million compared to OMR 125 million in the previous week, an increase of 9.5%, while the number of executed transactions rose from 10,210 to 11,800, marking an increase of 15.6%.