Industrial Shares Lead MSX Rally: What Investors Need to Know for Market Opportunities in Oman
MUSCAT: The industrial stocks on the Muscat Stock Exchange (MSX) continued their upward momentum last week, marking the sixth consecutive week of gains and driving the sector index higher ahead of the preliminary 2025 financial results announcements.
Strong investor demand pushed the industrial sector index up by 132 points, closing above 7,900 points. This marks a total increase of over 680 points in the past six weeks, making the industrial sector the top performer on the exchange during this period. Key contributors to this rise included shares of Al Jazeera Steel Products, Al Anwar Ceramic Tiles, Oman Cables Industry, Al Safa Foods, Voltamp Energy, and Gulf International Chemicals.
Listed companies are expected to start releasing their preliminary financial results for 2025 this week, with disclosures scheduled to conclude by mid-January. These financial updates are anticipated to influence market trends in the coming weeks.
Meanwhile, other sectors showed mixed results. The main MSX index slipped below the 5,900-point mark after nearly three weeks of gains, closing at 5,895 points—a decline of 60 points. The services sector index dipped by nine points, impacted by drops in OQ Gas Networks, Ooredoo, and Al Suwadi Power. Conversely, the financial sector index increased by approximately 21 points, and the Sharia-compliant index rose by three points.
Market capitalization decreased by RO 99.2 million during the week, settling at RO 32.12 billion. Trading activity saw higher volumes, with the number of executed transactions rising to 21,834 from around 17,000 the previous week. However, the total trading value dropped to RO 160.5 million from RO 175.9 million a week earlier.
Bank Muscat led trading activity, representing 26.5% of total turnover with transactions valued at RO 42.6 million. Sohar International followed with RO 29.1 million, and OQ Exploration and Production ranked third with RO 27.2 million. Omantel and OQ Base Industries rounded out the top five, recording trades of RO 15.9 million and RO 10.6 million, respectively.
Share prices rose for 40 securities, while 30 declined and 25 remained unchanged. Lifa Group was the top gainer, climbing 13.7% to 330 baisa. Oman United Insurance advanced 9.3% to 339 baisa, and both Gulf Hotels Oman and Musandam Power increased by 8.2%. Al Jazeera Steel Products also gained 7.7%, closing at 680 baisa.
On the downside, Port of Salalah Services fell 8.3% to 330 baisa, Oman Refreshments dropped 8% to RO 1.370, Oman Chromite declined 7.3% to RO 3.800, Oman Fisheries slipped 6.6% to 28 baisa, and Oman Investment & Training eased 5.7% to RO 1.550.
In other developments, Oman Flour Mills announced that its Extraordinary General Meeting held on December 31 approved the company’s name change to Atayeb Group. — ONA
Special Analysis by Omanet | Navigate Oman’s Market
The sustained rally in industrial stocks on the MSX signals strong investor confidence in Oman’s industrial sector ahead of 2025 financial results, presenting an opportune moment for businesses to leverage growth in manufacturing and industrial production. However, the mixed overall market performance and declining market capitalization highlight the need for investors to carefully evaluate sector-specific dynamics, particularly focusing on industrial leaders while monitoring risks in services and other sectors. Smart investors and entrepreneurs should capitalize on the momentum in industrial stocks while preparing for potential volatility post-results announcements.
