MUSCAT – The strong performance reflects rising investor confidence in the Muscat Stock Exchange, supported by expectations of better investment returns, the market’s resilience to global economic changes, and improved financial results and disclosures from listed companies.
According to market data, the MSX outperformed all other Gulf bourses, which experienced mixed performance amid regional geopolitical tensions. While Saudi Arabia also ended the period in positive territory, other Gulf markets recorded declines ranging between 1 and 5 percent.
The benchmark index reached a series of record highs during the first half of the year, crossing 6,000 points in January, 7,000 points in February, and 8,000 points by March 29 – its highest level since 2008. The rally peaked at 8,397 points on May 4 before profit-taking trimmed some gains, leaving the index up 1,641 points over the six-month period.
The exchange attributed the strong performance to improved financial results from listed companies, stronger local economic indicators, and increased participation by domestic and Gulf institutional investors. Banking, investment, telecommunications, energy and industrial stocks were among the key drivers of the rally.
Total market capitalisation rose to RO 36.73 billion by the end of June, an increase of approximately RO4.72 billion from RO 32.01 billion at the end of December.
Trading value climbed sharply to RO 6.9 billion during the first half of the year, compared with RO 917.2 million in the corresponding period of 2025 and RO 711.5 million in the first half of 2024. The number of executed transactions also jumped to 733,000, up from 147,000 a year earlier.
April recorded the highest monthly trading value at RO 1.54 billion, followed by RO 1.43 billion in March and RO 1.29 billion in February, while June posted the lowest monthly trading value at RO 776.1 million. In terms of trading activity, June saw the highest number of executed transactions with 159,000, followed by April with 131,000 and February with 122,000.
Eight Omani-listed companies ranked among the top 30 Gulf stocks in terms of share price appreciation during the first half of the year. They include Galfar Engineering and Contracting, Raysut Cement, Voltamp Energy, Al Anqa Energy, Asyad Shipping, Oman and Emirates Investment Holding Company, Al Anwar Investments, and Bank Dhofar, supported by improved earnings and positive investor sentiment.