Muscat: Muscat Stock Exchange recorded 34 percent decline in trading value and a 16.8 percent drop in total number of transactions last week, impacted by reduced purchases from local funds and institutional investors.

According to Qatar News Agency, trading value fell to OMR 178.8 million compared to OMR 271.1 million the previous week, while executed transactions decreased from over 39,000 to 32,628.

The main index of Muscat Stock Exchange also dropped by 66 points amid profit-taking by local funds and institutions, which scaled back their purchases after five consecutive weeks of gains totaling more than 500 points.

By the end of last week's trading, the main index closed at 5,544 points. The financial sector index fell by 153 points due to declines in bank shares and leading investment companies, while the industrial sector index lost 23 points, and the services sector index dropped 13 points. Meanwhile, Sharia index edged up by about 4 points to close at 475 points.

Local funds and institutional investors accounted for 75.1 percent of total sales compared to 69 percent of total purchases. Omani individual investors, on the other hand, leaned toward buying, representing 21.1 percent of total purchases versus 15.9 percent of total sales.

During the week, the exchange saw price declines in 40 securities versus gains in 26. However, these drops did not affect Muscat Stock Exchange's total market capitalization, which remained steady at OMR 31.327 billion, supported by the listing of the 77th issue of Government Development Bonds valued at OMR 100 million.