Oman’s MSX Leads GCC Market Surge in 2025: Implications for Investors and Business Growth
MUSCAT, JAN 4 – The Muscat Stock Exchange (MSX) concluded 2025 as the standout performer among Gulf equity markets, finishing the year with significant gains, increased liquidity, and a broad recovery across various sectors. The Omani benchmark index’s impressive performance came during a period when regional markets displayed markedly different trends, highlighting the MSX’s resurgence as an attractive option for investors in search of growth and value.
According to reports from Vision Capital and Kamco Invest, Oman was the best-performing stock market in the GCC for 2025, surpassing its peers by a considerable margin. The MSX 30 Index surged by 28.2% over the year, while most other Gulf markets reported more modest increases. Notably, one major market ended the year with a decline.
The disparity in performance was striking. Saudi Arabia’s equity market suffered a year-to-date drop of 12.8%, marking it as the weakest performer in the GCC. In contrast, Abu Dhabi’s market gained 6.1% and Dubai increased by 17.2%, buoyed by selective strength in real estate and services. Qatar’s market saw a minimal rise of 1.8%, Bahrain climbed 4.1%, and Kuwait emerged as the second-best performer with a 21.2% gain, although still trailing behind Oman.
Given this regional context, the MSX’s rise is particularly notable. Following a modest 1.4% gain in 2024, the MSX accelerated sharply in 2025, reaching its highest level since May 2016 on December 12. Despite a slight dip towards the year’s end, the index closed at 5,866.8 points, solidifying its status as the top-performing exchange in the GCC.
Earlier market volatility adds significance to the recovery. The MSX 30 Index plummeted to a low of 4,223.83 points in early April before rebounding to an annual peak of 5,985.66 points in mid-December, reflecting a remarkable 39% recovery from its lowest point and a notable improvement in investor sentiment.
Sector-wise, the rally was broad-based. All three main sectors of the MSX ended the year positively: the Industrial Sector led with a surge of 48.9%, closing at 7,846.45 points, buoyed by strong manufacturing, utilities, and energy stocks. The Services Sector climbed 38.0% to 2,405.16 points, while the Financial Sector gained 28.3%, closing at 9,908.9 points, driven by renewed strength in banking shares.
Stock performance was equally remarkable. National Aluminium Products topped the gainers’ list with a 175% increase in share price over the year. Phoenix Power and Voltamp Energy followed closely, gaining 167.2% and 157.8%, respectively. Conversely, Financial Services Company experienced the steepest decline, with its share price falling by 63.1%, followed by Barka Water and Power and Oman Chlorine, which reported decreases of 44.7% and 43.2%.
Trading activity on the MSX saw significant growth, with the total value of shares traded hitting RO 5.0 billion in 2025, a notable increase from RO 1.2 billion the previous year. The trading volume also surged, with 25.1 billion shares exchanged, compared to 6.4 billion in 2024.
Bank Muscat led the market in terms of value traded, with RO 888.4 million in shares changing hands. Sohar International Bank and OQ Base Industries followed closely, while Sohar International Bank dominated trading volume with nearly 5.2 billion shares exchanged. These trends highlight that Oman’s equity market not only outperformed the GCC in terms of returns but also regained depth and liquidity, establishing a solid foundation as it moves into 2026.
Special Analysis by Omanet | Navigate Oman’s Market
Oman’s impressive 28.2% surge in the Muscat Stock Exchange positions it as a beacon of opportunity amid regional volatility. This recovery not only highlights a growing investor confidence but also creates prospects for industries, particularly manufacturing and finance, to capitalize on renewed economic vigor. Smart investors and entrepreneurs should act swiftly to harness this momentum, diversifying their portfolios and seeking strategic partnerships within the burgeoning sectors leading the MSX rally.
