MSX Index Rises 97 Points on Strong Preliminary Financial Results

Market Capitalisation Climbs to RO 33.25 Billion at MSX

Muscat: The main index of the Muscat Stock Exchange (MSX) rose by 97 points last week, closing at 6,223 points, buoyed by an atmosphere of optimism among investors following the announcement of preliminary financial results of public shareholding companies whose fiscal year ended in December 2025.

Preliminary results reflected strong performance across a number of listed companies. OQ Exploration and Production recorded the highest profits at RO 293.1 million, despite a 10 percent decline compared to its 2024 profits of RO 326.5 million. Bank Muscat ranked second, posting net profits of RO 255.5 million, up from RO 225.5 million in 2024, while Sohar International Bank reported stable profits of RO 100 million.

The National Bank of Oman saw its net profit rise to RO 70.2 million, compared to RO 63.1 million in 2024, while Ahli Bank’s profits increased from RO 41.6 million to RO 46.3 million. Oman Cables Industry recorded profits of RO 24.2 million, up from RO 22.6 million a year earlier, and Voltamp Energy posted a significant jump in net profit from RO 6.1 million to RO 14.2 million. Energy companies, in general, reported improved financial performance.

During the week, prices of 57 securities advanced, positively impacting market indices and pushing market capitalisation up to RO 33.25 billion, recording weekly gains of RO 318.5 million.

All sectoral indices closed higher, led by the industrial sector index, which gained 335 points, supported by shares of Al Jazeera Steel Industries, Voltamp Energy, Oman Cables Industry, and Gulf Mushroom Production. The financial sector index rose 79 points, the services sector index gained 43 points, while the Sharia index increased by 13 points.

Despite the positive index performance, the value of trading declined to RO 174.6 million, down from RO 266 million the previous week, while the number of executed transactions fell to 20,231, compared to 26,686 transactions.

In terms of trading value, OQ Exploration and Production topped the list with RO 36.6 million, representing 21 percent of total trading value. It was followed by Sohar International Bank with RO 25.7 million, Bank Muscat with RO 25.1 million, Asyad Shipping with RO 16.5 million, and OQ Gas Networks with RO 13.6 million, accounting for 7.7 percent of total trading value.

Gulfar Engineering and Contracting shares recorded the highest gain, rising 30.7 percent to close at 85 baisa, followed by Al Jazeera Steel Products, which rose 23.4 percent to 890 baisa, while Takaful Oman Insurance shares climbed 16.6 percent to 77 baisa.

On the downside, the building materials sector led decliners, falling 8.1 percent to close at 68 baisa. Oman Gas shares declined 7 percent to 92 baisa, while Oman Chrome shares fell 5.4 percent to close at RO 3.500.

In corporate news, Gulf Mushroom Production Company announced that its board of directors has proposed a cash dividend of 25 baisa per share and a 10 percent bonus share issue (one share for every ten shares). The proposal will be submitted to the Annual General Meeting scheduled for 24 March. Preliminary results showed that the company’s net profit rose to RO 2.3 million in 2025, compared to RO 1.9 million in 2024, marking an increase of 20 percent.