Saturday 10 / October / 2026
Muscat: The Omani stock market extended gains during the week, with the MSX 30 index advancing by 3.08% to 7,832.25 points. The number of shares traded soared by 46.60%, while the value of shares traded surged by 58.48%. The total market cap rose by 1.26%.
“The market benefited from solid local fundamentals, while changing geopolitical expectations in the region continue to affect sentiment,” according to an industry watcher.
On the domestic front, a 1.9% increase in oil exports to 209 million barrels in the first eight months signalled resilient shipment efforts. “Credit growth of 12.2% year-on-year for the first seven months of the year and re-export gains of 13.6% in the first half of 2026 additionally helped underpin the MSX 30’s steady performance,” said Abdullah Mahfoodh Al Wahaibi, Coach and analyst in global financial markets.
Attention also focused on geopolitical developments and diplomacy. While US-Iran talks continued through mediators, reports of a potential resumption of attacks heightened caution. Risks remained in place as maritime disruptions in the Strait of Hormuz continued. “At the same time, data indicating higher GCC oil exports through key maritime chokepoints, despite ongoing energy-flow threats, still offered some buffer for sentiment,” he said.
Oil prices traded back and forth during the week as investors weighed regional tensions, security risks, and maritime threats. Although concerns eased after Donald Trump stated that no new military operations could occur in the region before the midterm elections, the market could remain vulnerable to volatility.
Meanwhile, investors also monitored the monetary policy’s outlook. The FOMC meeting minutes indicated that while officials did not consider higher interest rate hikes urgent for October’s meeting, they continued to believe an increase was warranted before year-end. “This maintained elevated expectations for further tightening in December, potentially pressuring global stock markets and Oman’s MSX 30 index,” said Abdullah Mahfoodh.
At the sector level, the services index climbed by 2.86%, closing the week at 3,118.70 points. Asyad Shipping rallied by 11.48%, followed by OQ Gas Networks, Abraj Energy Services, and AlBatinah Power, all advancing by 5.53%, 5.11%, and 1.52%%, respectively. At the same time, Phoenix Power declined by 7.42%.
The financial index jumped by 2.32%, finishing the week at 14,017.48 points. Most heavyweight stocks posted solid gains, led by Bank Muscat, Oman Emirates Holding, Bank Dhofar, and Madina Takaful, up by 5.23%, 4.17%, 3.72%, and 3.64%, respectively.
Meanwhile, the industry index increased by 1.51%, closing at 10,218.41 points. OQ Base Industries rose by 3.07%, Voltamp Energy was slightly higher by 2.17%, while Oman Cables Industry finished the week with a limited increase of 0.29%.
Looking ahead, Oman’s stock market may continue to find support in local fundamentals amid geopolitical uncertainty. “Higher exports through key maritime chokepoints could underpin the index, while further tensions could weaken sentiment. Traders will also continue to watch Q3 earnings results in the coming weeks for further pointers on performance,” said Abdullah Mahfoodh.
