Muscat Stock Exchange Hits 29-Month High: What This Means for Investors and Business Growth in Oman
MUSCAT: The Muscat Stock Exchange’s primary index closed last week at a 29-month high, driven by strong buying activity from local funds, institutions, and individual investors.
The index rose by 68 points, reaching 4,849, its highest level since March 30, 2023. All sector indices experienced gains, led by the industrial sector, which increased by 150 points. The services sector added 28 points, the financial sector rose 18 points, and the Shariah index climbed 3 points to reach 469.
Trading activity showed significant strength, with turnover increasing by 31.3 percent to RO 129.8 million, compared to RO 98.8 million the previous week. The number of transactions grew by 3 percent, exceeding 10,700 trades. Market capitalization expanded by RO 269 million, reaching RO 29.40 billion.
Stock prices advanced for 42 securities, declined for 21, and remained unchanged for 29. United Finance Bonds and Oman Refreshments led the gainers, each rising by 11.1 percent, while Muscat Insurance recorded the largest decline, falling 18.9 percent.
Bank Muscat was the most actively traded stock by value, accounting for RO 35.2 million in transactions. It was followed by OQ Base Industries with RO 29.8 million, Bank International with RO 16.8 million, OQ Gas Networks with RO 16.1 million, and OQ Exploration and Production with RO 11.3 million.
In corporate developments, Omantel and Ooredoo announced that the Telecommunications Regulatory Authority has standardized the royalty rate for mobile and fixed services at 10 percent of revenue, effective from the fiscal year 2025. Omantel projects this change will increase its net profits by RO 1.7 million after tax in the first half of 2025, while Ooredoo expects a post-tax benefit of RO 2.5 million for the year. — ONA
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The Muscat Stock Exchange’s surge to a 29-month high signals renewed investor confidence and robust market liquidity, particularly benefiting industrial and financial sectors. This growth presents strategic opportunities for businesses to leverage increased capital flows and heightened trading activities. Smart investors and entrepreneurs should focus on sectors with strong institutional backing and monitor regulatory shifts, such as the standardized telecom royalty rates, which could enhance profitability in the telecom industry.
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