MUSCAT: The Muscat Stock Exchange (MSX) main index recorded a remarkable gain of over 100 points during the week, marking its strongest weekly performance since January 2018. This upward momentum was fueled by robust showings in key sectors including banking, energy, industrials, investment, and petroleum product marketing companies. Investors responded positively to sectoral strength, reflecting renewed confidence in Oman’s economic outlook and stability in domestic financial markets.
All sectoral indices closed the week in positive territory, with the financial sector index jumping more than 200 points and the services sector rising by 71 points. The industrial sector added 67 points, while the Shariah index climbed to 475 points, showcasing broad-based growth across multiple segments. This widespread sectoral performance contributed to a healthy market breadth, with 44 securities recording gains, 20 declining, and 23 remaining unchanged.
Market capitalization benefited significantly, with MSX’s total value increasing by RO 291 million to reach RO 29.944 billion. This increase was supported not only by gains in stock prices but also by the listing of the 76th government development bonds worth RO 90 million. Trading activity also strengthened, with weekly trading value rising to RO 136.9 million, up 9.5% from the previous week, while the number of executed deals climbed 15.6% to 11,800, reflecting growing investor participation.
Top trading performers included Sohar International Bank with RO 32.3 million in trades, representing 23.5% of total weekly trading, followed by Bank Muscat, OQ Basic Industries, National Bank of Oman, and OQ Gas Networks. Among individual stocks, Sembcorp Salalah surged 16.7%, Phoenix Energy rose 11.3%, Al Anwar Investments gained 10.8%, and Oman Oil Marketing Company climbed 6.6%. On the downside, Aman Real Estate Investment Fund fell 7.7%, United Finance Bonds dropped 7.4%, and Dhofar International Development and Investment lost 2.7%. Corporate developments included OQ Exploration and Production announcing an expansion of its advanced processing plant at the Bisat field, increasing capacity to 777,000 barrels of liquids per day, including 67,000 barrels of oil.
