Muscat: The total trading value on MSX jumped to RO 434.1 million in Q1 2025, compared to RO 304.3 million in the same period last year. A significant driver of this growth was the private sale of a 35% stake in Ahli Bank by Bahrain’s Ahli United Bank, which pushed Ahli Bank’s Q1 trading value to RO 162.8 million—accounting for 37.5% of the total.

OQ Exploration and Production followed with trades worth RO 49.9 million (11.5%), while Bank Muscat registered RO 26.6 million. OQ Basic Industries and Sohar International Bank rounded out the top five with RO 26.2 million and RO 22.5 million respectively.

Despite the trading value growth, the number of executed transactions fell by 14.5% year-on-year, totaling 57,000 deals compared to 67,000 last year. The MSX main index also closed Q1 at 4,367 points—down 209 points from its December 2024 level—reflecting pressure from declining stock prices and reduced support from blue-chip firms.

Market capitalization recorded modest gains, reaching RO 27.64 billion by the end of March, up by RO 43.8 million. Still, the capitalization was weighed down by value declines in heavyweights such as OQ Exploration and Production, Omantel, Bank Sohar International, and OQ Gas Networks.

Among publicly traded firms, OQ Exploration and Production led in market capitalization at RO 2.56 billion. Bank Muscat ranked second with RO 1.89 billion, and Bank Sohar International followed with RO 860.2 million.

The quarter also marked the listing of Asyad Shipping Company on March 12. Its IPO offered 1.41 billion shares at 123 baisas each, representing 20% of its capital. By quarter’s end, the share price inched up to 124 baisas, across 892 trades valued at over RO 10 million.

Additionally, Computer Stationery Manufacturing Company transitioned from a public joint-stock to a closed joint-stock entity, now operating with a capital of RO 1 million across 10 million shares.