Investor Confidence Lifts Muscat Stock Exchange Amid Sectoral Swings

Muscat : The Muscat Stock Exchange (MSX) saw modest overall gains this week, buoyed by robust investor activity and notable sectoral performances that reflect a strengthening market sentiment.

The industrial sector led the rally with an 84-point surge, while the financial sector followed with a 19-point increase. The Shariah Index inched up by 3 points, and the services sector remained steady at 1,599 points, signaling mixed movement across sectors.

Market capitalization rose by RO 53.3 million, bringing the total to RO 28.274 billion at the close of Thursday’s trading. Weekly trading volume saw a 5.2% increase, rising to RO 68.3 million from RO 64.9 million in the previous week. However, the number of transactions slightly declined to 8,626, down from 9,389.

Omani individual investors remained actively engaged, accounting for 26.6% of total purchases, slightly higher than their 25.7% share in sales. Meanwhile, sustained buying by local institutions over the past month has added momentum to the trading landscape.

Among individual stocks, Bank Muscat saw strong demand, reaching a weekly high of 278 baisas before closing at 275 baisas, up 2 baisas. The stock led in trading value, with 583 trades worth RO 12.5 million, representing 18.3% of the total.

Other top-traded stocks included:

• OQ Basic Industries: RO 11.4 million
• Asyad Shipping: RO 10.2 million
• OQ Gas Networks: RO 8.5 million
• Bank Sohar International: RO 8.34 million

In corporate developments, Bank Sohar and Ahli Bank announced a postponement of their merger discussions pending regulatory approvals. In the meantime, Ahli Bank confirmed plans for a rights issue of RO 50 million to strengthen its capital base. Following the news, Bank Sohar’s shares dipped by 1 baisa to 139 baisas, while Ahli Bank gained 3 baisas, closing at 158 baisas after 52 trades valued at RO 813,000.

During the week:

• 39 securities recorded gains
• 26 declined
• 22 remained unchanged

Top gainers included:

• Arab Falcon Insurance Company, up 17.3% to 135 baisas
• Oman Investment and Finance, up 13.1% to 86 baisas
• Muscat Insurance, up 10% to 660 baisas

On the downside:

• Oman Qatar Insurance fell 9.6% to 196 baisas
• Building Materials Industries dropped 4.1% to 70 baisas
• Dhofar Insurance declined 3.9%

As investor interest continues to grow, especially in the industrial and financial sectors, market analysts suggest that sustained participation—particularly by retail and institutional investors—could further support MSX momentum in the coming weeks.