Oman's stock market experienced significant growth last week, with the MSX 30 index rising by 3.08% to reach 7,832.25 points. The number of shares traded also increased by 46.60%, and the total value of shares traded rose by 58.48%. Additionally, the total market value increased by 1.26%.
Strong Economic Fundamentals
Strong local factors played a crucial role in this positive market trend. In particular, a 1.9% increase in oil exports to 209 million barrels in the first eight months of the year reflects ongoing efforts in oil transportation. Abdullah Mahfoudh Al-Wahibi, a global financial markets analyst, pointed to a 12.2% growth in credit this year and a 13.6% increase in re-exports in the first half of 2026, identifying these as factors contributing to the stable performance of the MSX 30 index.
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Geopolitical Developments and Their Impacts
The market's attention was also directed towards geopolitical developments and diplomacy. While negotiations between the United States and Iran continue with the mediation of countries, reports of a potential resumption of attacks have raised concerns. Risks remain, especially with ongoing maritime disruptions in the Strait of Hormuz. However, data indicated an increase in oil exports from Gulf Cooperation Council countries through key maritime points, despite ongoing threats, which helped bolster market sentiment.
On the sector level, the services index rose by 2.86% to 3,118.70 points. Asia Transport Company increased by 11.48%, followed by OQ Gas Networks, Energy Services Abraj, and Al-Batina Electricity with increases of 5.53%, 5.11%, and 1.52%, respectively. Additionally, the financial index rose by 2.32% to 14,017.48 points, with Bank Muscat, Oman Emirates Holding, and Dhofar Bank experiencing increases of 5.23%, 4.17%, and 3.72%, respectively.
Looking ahead, Oman's stock market may be supported by local fundamentals amid geopolitical uncertainty. Higher exports through key maritime points are expected to strengthen the index, while further tensions may weaken sentiment. Traders will also focus on third-quarter earnings results in the coming weeks for more indications of market performance.
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