MSX Index Rises After Two Weeks of Decline

Muscat: The Muscat Stock Exchange's main index rose by approximately 160 points last week, closing at 7,277 points. This increase was driven by strong buying activity from individual investors and a rise in purchases by local and Gulf investment funds and institutions. According to Yemen News Agency, on Saturday, all sector indices recorded gains, with most leading stocks rising, including Bank Muscat, Omantel, Bank Sohar International, OQ Basic Industries, OQ Exploration and Production, and numerous industrial, investment, and energy companies. The financial sector index recorded the highest gains, rising by 257 points. The industrial sector index climbed by more than 100 points, the services sector index rose by 49 points, and the Sharia-compliant index increased to 578, a rise of 6 points. Last week saw 45 stocks rise in price and 25 decline, boosting investor confidence and encouraging buying after the financial results for the first half of the year showed increased company profits and improved financ ial performance. Trading value during the past week recorded an increase of 40 percent, exceeding 255 million Omani riyals, compared to about 182.7 million Omani riyals in the week before, and the number of executed transactions increased by 15.8 percent from 39,000 transactions to more than 46,000 transactions.