Muscat Stock Exchange Rises 28% in First Half of 2026

Muscat Stock Exchange Leads GCC Markets with Strong First-Half Performance

Muscat: The Muscat Stock Exchange (MSX) delivered one of its strongest performances in recent years during the first half of 2026, supported by robust economic growth, increased market liquidity and stronger participation from local investment funds and institutional investors.

According to market analysts, the positive economic environment translated into higher trading activity, stronger market indices and improved investor confidence, making the Muscat Stock Exchange the best-performing market among Gulf exchanges during the first six months of the year.

Adel Walid, Director of Brokerage at United Securities Company, said the MSX General Index rose by 28% during the first half of 2026, ranking it among the top-performing stock markets globally.

He attributed the rally to stronger corporate fundamentals, healthy first-quarter earnings and higher oil prices, which averaged around US$89 per barrel during the first half of the year—well above the level required to support the state budget.

“The positive performance of listed companies and the strength of the Omani economy created favourable conditions for investors, while higher oil prices further strengthened market sentiment,” he said.

Liquidity and Trading Activity Surge

Walid noted that investor participation increased significantly during the period, with average daily trading value rising to approximately RO58 million, compared with RO25 million during the same period last year.

The number of executed transactions also recorded growth exceeding 200%, reflecting broader participation from retail investors, local institutions, GCC investors and foreign investment funds.

Strong Outlook for the Second Half

Looking ahead, Walid expects the Muscat Stock Exchange to maintain its positive momentum during the remainder of 2026, supported by new listings and sustained investor confidence.

Among the key drivers is the upcoming listing of OMFCO, whose initial public offering attracted subscription requests worth more than RO4.6 billion, the highest demand ever recorded in the history of the Muscat Stock Exchange.

He said the unprecedented subscription level reflects growing confidence among domestic and international investors in the Omani capital market.

Positive Economic Fundamentals

Walid also expects oil prices to remain stable between US$70 and US$75 per barrel, providing continued support for government finances and the wider economy.

He added that Oman is likely to receive further improvements to its sovereign credit ratings, which could enhance the country’s attractiveness to foreign investors and strengthen capital inflows into the stock market.

Despite its strong gains, Walid noted that the Muscat Stock Exchange continues to trade at attractive valuations compared with regional markets, leaving room for further growth.

He also expressed optimism that expected progress in the market’s classification and upgrade process during September or October 2026 could attract additional foreign investment and further strengthen the performance of the Muscat Stock Exchange.