MSX Reduces Weekly Losses Amid Improved Investor Confidence

Muscat:  The main index of the Muscat Stock Exchange (MSX) reduced part of its losses at the close of last week’s trading after gaining 388 points during Thursday’s session, supported by improved investor sentiment and the recovery of several leading stocks across various sectors.

The main index recorded a weekly decline of 328 points to close at 7,631 points. The index had dropped to 7,243 points during Wednesday’s trading, marking its lowest level in three months.

Thursday’s recovery was supported by gains in banking, telecommunications, energy, and OQ Group shares, which resumed upward movement following declines earlier in the week.

Sector indices ended the week lower, with the industrial sector index recording the largest decline after losing 220 points. The services sector index fell by 138 points, the financial sector index declined by 128 points, while the Sharia index dropped by 27 points to close at 612 points.

The declines witnessed over the past two weeks pushed several leading stocks to levels last seen at the end of the first quarter of 2026, encouraging investors to return to buying in anticipation of renewed market gains.

According to statistical data issued by the Muscat Stock Exchange, shares of Omantel, Al Jazeera Steel Products, Barka Water and Power, Oman Arab Bank, Bank Nizwa, Bank Dhofar, Al Safa Foods, and Oman Oil Marketing Company recorded gains.

Sohar Power shares posted a notable increase of 41.5 percent, rising from 226 baisas to 320 baisas. Omantel shares gained 5.8 percent to close at RO 1.455, while Oman Arab Bank shares rose 5.3 percent to close at 215 baisas.

During the week, prices of 25 securities increased, compared to declines in 59 securities, while 12 securities remained unchanged. Thursday’s trading alone witnessed gains in 56 securities against declines in five securities, reflecting renewed investor confidence and increased buying activity.

The market value of listed securities recorded gains of RO 926 million during Thursday’s session, reducing total weekly losses to RO 580 million. The market capitalization closed the week at approximately RO 36.8 billion.

Trading value rose last week to RO 288.7 million, compared to RO 249.4 million in the previous week, marking an increase of 15.7 percent. The number of executed transactions also increased by 27.6 percent to reach 33,747 transactions.

OQ Basic Industries topped the list of most traded companies by trading value at RO 69.6 million, representing 24.1 percent of total trading value. Bank Muscat ranked second with RO 60.4 million, followed by Omantel with RO 31.5 million, Bank Sohar International with RO 31.3 million, and OQ Exploration and Production with trades valued at RO 30.5 million, accounting for 10.5 percent of total trading value.

In company-related developments, Voltamp Energy announced that its board of directors approved reducing the nominal value of the company’s shares from 100 baisas to 10 baisas to enhance liquidity, increase trading activity, broaden the shareholder base, and improve the attractiveness of the stock to retail investors.

The company stated that the decision will take effect on 2 June 2026. As a result, the number of shares will increase from 100 million to one billion shares, while the company’s capital will remain unchanged at RO 10 million. Voltamp shares closed Thursday’s trading at RO 1.795.

Meanwhile, the Muscat Stock Exchange last week listed the first issuance of Dhofar Islamic bonds in the bonds and sukuk market. The issuance consists of 5 million sukuk valued at RO 1 each, offering an annual return rate of 5 percent.