Muscat: The company’s initial public offering (IPO) of 20% of its capital drove investor interest, marking a significant milestone for Oman’s stock market.

The total market capitalization of the MSE now stands at OMR 27.6 billion, with public joint-stock companies accounting for 44.9% of the total. Meanwhile, closed companies hold RO 10.7 billion, and the bonds and sukuk market stands at RO 4.5 billion.

Asyad Shipping made a strong entry on the exchange, witnessing 287 transactions worth RO 2.7 million, or 10.8% of total trading value. The company’s share price closed unchanged at 123 baisas, but its market capitalization soared to RO 640.6 million, making it the fourth-largest company on the MSX, behind:
OQ Exploration and Production (RO 2.5 billion)
Bank Muscat (RO 1.9 billion)
Bank Sohar International (RO 820.5 million)
Investor focus shifted to the banking sector, with expectations of dividend approvals in upcoming general assemblies. National Bank of Oman (NBO) dominated trading, with RO 9.9 million in transactions, accounting for 39% of total trading value. Bank Sohar International and Bank Muscat followed with RO 1.6 million and RO 1.5 million in trades, respectively.

Banks contributed to 51.5% of total market trading, helping the financial sector index climb 38 points—the only gainer among MSX indices.

With banks preparing for March general meetings, shareholders are set to vote on dividend distributions:
NBO (March 18) – 9.4 baisas per share (cash dividend)
Bank Dhofar (March 23) – 6.55% cash dividend + 1.45% bonus shares
Ahli Bank (March 25) – 5% cash dividend + 5% convertible bonds
Bank Muscat (March 26) – 16.5% cash dividend
Sohar International (March 26) – 8% cash dividend
Gains:
Muscat Insurance surged 46% to 467 baisas
Voltamp Energy jumped 7.8% to 620 baisas
NBO rose 7.1% to 300 baisas
Losses:
Shell Oman Marketing fell 15.2% to 500 baisas
Oman Cables Industry dropped 10.7% to 2.174 baisas
Oman Fisheries declined 10% to 27 baisas

Despite financial sector gains, the MSX main index dipped 8 points to 4,387, while other sectors saw losses:
Industrial Index dropped 154 points
Services Index fell 16 points
Shariah Index declined 7 points to 395

Stock market activity surged, with trading value rising 36% to RO 25.3 million, up from RO 18.6 million the previous week. The number of executed transactions also grew, reaching 4,064, up from 3,489.
While 43 securities saw price declines, 15 stocks recorded gains, and 24 remained unchanged, reflecting a mix of investor optimism and market corrections.