Muscat Stock Exchange Index Rises 97 Points Following Preliminary Financial Results Announcement

Muscat: The main index of the Muscat Stock Exchange rose 97 points last week, closing at 6223 points. This increase was fueled by investor optimism following the release of preliminary financial results for publicly traded companies whose fiscal year ended last December. According to Yemen News Agency, preliminary financial results on Saturday showed strong performance for several publicly listed companies on the Muscat Stock Exchange. OQ Exploration and Production recorded the highest profits at OMR 293.1 million, although its profits last year declined by 10% compared to the net profits of OMR 326.5 million recorded in 2024. Bank Muscat came in second with net profits of OMR 255.5 million, compared to OMR 225.5 million in 2024. Bank Sohar International's net profits remained stable at OMR 100 million. National Bank of Oman's net profits rose to OMR 70.2 million, compared to OMR 63.1 million in 2024. Ahli Bank's profits increased from OMR 41.6 million to OMR 46.3 million, and Oman Cables Industry's profits climbed to OMR 24.2 million, compared to OMR 22.6 million in 2024. In 2024, Voltamp Energy's net profit jumped from approximately 6.1 million Omani rials to 14.2 million Omani rials, and energy companies performed well, with most reporting increased net profits. Last week, the prices of 57 securities rose, positively impacting the stock market indices and increasing the market capitalization to 33.25 billion Omani rials, representing a weekly gain of 318.5 million Omani rials. The Muscat Stock Exchange witnessed a decline in trading value and the number of executed transactions last week. Trading value fell from 266 million Omani rials to 174.6 million Omani rials, and the number of executed transactions decreased from 26,686 to 20,231.