Oman’s MSX Capitalisation Surpasses RO 36 Billion: What This Means for Investors and Business Growth
MUSCAT: The Muscat Stock Exchange (MSX) maintained a stable market capitalisation above RO 36.28 billion at the close of trading last week, sustaining gains accrued earlier in the year despite short-term volatility in regional markets.
Since the start of 2026, the MSX has increased by over RO 4.2 billion in market value, up from approximately RO 32 billion at the end of 2025. This growth reflects continued investor confidence in several leading listed companies.
Shares of OQ Group subsidiaries and other major firms were instrumental in stabilising the market and supporting the main index towards the week’s end. Following a sharp decline on Tuesday due to geopolitical tensions in the region, the index rebounded on Wednesday and Thursday.
Buoyed by rising oil prices and expectations that regional developments would not significantly impact corporate performance, the MSX 30 index closed at 7,378 points. This limited its weekly loss to just 14 points after dropping to a low of 7,256 points earlier in the week.
Sector indices saw declines across the board. The industrial sector index experienced the largest fall, dropping 238 points, followed by the financial sector which declined by 78 points, and the services sector which fell by 21 points. The Sharia-compliant index also slipped by 14 points.
Despite these declines, gains in several blue-chip stocks supported overall market sentiment, with 21 securities recording price increases during the week.
Shares of OQ Exploration and Production rose by 9 baisas to close at 477 baisas, lifting the company’s market capitalisation to RO 3.816 billion, a weekly increase of RO 72 million. OQ Basic Industries added 11 baisas to close at 240 baisas, raising its market value to RO 830.2 million, up RO 38 million week-on-week.
Asyad Shipping shares rose 7 baisas to close at 246 baisas, pushing its market capitalisation to RO 1.281 billion, reflecting a weekly gain of RO 36.4 million. The company recently stated that regional developments were unlikely to materially affect its financial results, highlighting that most of its vessels operate under lease arrangements and that it is closely monitoring the situation.
Other stocks that saw gains included National Bank of Oman, Muscat Insurance, Musandam Power, International Financial Investments Holding, Oman International Development and Investment Company (Ominvest), and A’Saffa Foods.
Total trading value for the week reached RO 277.2 million, marking an 18 percent decrease from RO 339.7 million recorded the previous week. Nonetheless, the number of executed transactions remained strong, exceeding 27,400 trades.
Bank Muscat led trading activity by value at RO 57.8 million, accounting for 20.8 percent of total trading. Sohar International followed with RO 53.8 million, while OQ Exploration and Production ranked third with RO 49.3 million.
In the bond and sukuk market, Oman Investment & Finance Company’s mandatory convertible bonds issued in 2024 posted the strongest gain, rising 8.5 percent to close at 114 baisas. National Bank of Oman’s mandatory convertible bonds increased 7.4 percent to 115 baisas, while Mohammed Al Barwani’s sukuk edged up 1.4 percent to RO 1.65.
Trading value in the bond and sukuk segment stood at RO 405,000, compared with RO 471,000 the previous week.
Special Analysis by Omanet | Navigate Oman’s Market
The Muscat Stock Exchange’s resilience amid regional geopolitical tensions and sustained investor confidence, especially in blue-chip stocks like OQ Group subsidiaries, signals strong underlying market stability and growth potential. For businesses and investors, this environment presents opportunities to leverage rising market capitalization and oil price trends, while cautiously monitoring sector-specific volatility and geopolitical risks. Smart investors should focus on robust sectors and key players with solid fundamentals to navigate short-term fluctuations and capitalize on long-term growth in Oman’s evolving market.
