Saturday 05 / September / 2026
Muscat: The Omani stock market advanced for another week, with the MSX 30 index up 1.27%, closing at 7628 points. Overall market capitalisation rose by 1.71% and the value of shares traded surged by 116.40%, while the number of shares traded increased by 123.08%.
“The market benefited from Saudi-Omani diplomatic efforts that aimed to ease geopolitical tensions, as well as strong local fundamentals,” said Ahmed Negm, Head of Market Research MENA at XS.com.
“An 11.3% increase in total oil production, to 233.80 million barrels, signalled stronger daily output despite the regional situation. Solid first half (H1) data on banking credit growth by 12.3% year-on-year and non-oil export resilience of 11.4% also helped underpin the MSX 30’s steady advance,” he added.
On the geopolitical front, Saudi-Omani talks on recent developments and potential solutions to achieve de-escalation contributed to improving sentiment. Donald Trump also stated that the campaign against Iran won’t last long, further easing investor concerns.
Crude oil prices rose sharply throughout the week amid renewed escalations in the region. Oil remains supported by geopolitical risk, though prices eased slightly towards the end of the week and could continue to retreat if diplomatic efforts see progress and shipping conditions improve.
Meanwhile, markets also monitored Friday’s US non-farm payrolls data, keeping caution in place. The country’s job growth accelerated sharply in August, while the unemployment rate held steady at 4.1%, pointing to a still-stable labour market and keeping a Fed interest rate hike on the table this month, weighing on global sentiment.
At the sector level, the industrial sector finished the week with a strong performance, advancing 3.49% to 9816 points. Voltamp Energy jumped 8.14%, followed by OQ Base Industries (SFZ), Oman Cables Industry, and Jazeera Steel Products, each recording positive performances of 4.40%, 1.32%, and 1.78%, respectively.
The financial index inched higher by 0.38% this week, closing at 13434 points. Omnivest, Madina Takaful, and Sohar International Bank posted solid gains, rising by 4.74%, 3.67%, and 3.26%, respectively. Bank Dhofar declined slightly by 0.91%, and Oman Emirates Holding slipped by 0.77%.
The services index gained modestly by 1.52%, finishing at 3060 points. Al Batinah Power surged by 7.07%, while Oman Telecom rose slightly by 1.24%, and Phoenix Power edged higher by 1.07%. Meanwhile, OQ Gas Networks retreated by 1.35%, and Abraj Energy Services moved lower by 0.98%.
Looking ahead, Ahmed Negm said, sentiment could be shaped by any clear timeline toward a diplomatic resolution, de-escalation efforts, and improved shipping through the Strait of Hormuz. “Traders will closely monitor oil price movements and upcoming US economic data that may influence Federal Reserve interest-rate expectations. At the same time, strong local fundamentals could continue to underpin markets despite geopolitical uncertainty,” he finally added.
