Muscat Stock Exchange Records RO 1.05 Billion Trading Value in May

Muscat Stock Exchange Maintains Trading Above RO 1 Billion for Fourth Consecutive Month

Musca: The Muscat Stock Exchange (MSX) maintained trading above the RO 1 billion mark for the fourth consecutive month in May 2026, despite declines in several leading stocks amid profit-taking activity by investors following gains recorded during previous months.

Trading value during May reached RO 1.0478 billion, compared to more than RO 1.541 billion in April, which marked the highest monthly trading value recorded in several years.

The bulk of trading activity was concentrated in shares of OQ Basic Industries, Bank Muscat, Bank Sohar International, OQ Exploration and Production, and Omantel, which collectively accounted for 78 percent of the total trading value.

The exchange recorded more than 107,000 transactions during May, compared to 131,000 transactions in April and 115,000 transactions in March.

According to MSX trading data, investors continued purchasing shares of several companies whose prices declined during the month in anticipation of renewed upward momentum.

OQ Gas Networks witnessed more than 17,000 transactions, with its share price closing at 238 baisa, down 35 baisa from the previous month. OQ Basic Industries recorded 16,629 transactions, with its share price declining by 56 baisa to close at 260 baisa.

The number of transactions executed on Bank Sohar International shares exceeded 13,000, with the stock closing at 207 baisa, down 31 baisa. Bank Muscat recorded 11,775 transactions, with its share price falling 53 baisa to close at 423 baisa.

Meanwhile, OQ Exploration and Production shares declined by 42 baisa to close at 475 baisa, after recording trading value exceeding RO 137.6 million through 9,201 transactions. The company ended the month with a market capitalisation of approximately RO 3.8 billion.

The MSX main index recorded its first monthly decline after ten consecutive months of gains dating back to July 2025. The index closed May at 7,757 points, down 612 points, following gains of 201 points in April, 775 points in March and 1,063 points in February.

On 4 May, the index reached its highest level of the year at 8,397 points, before declining under selling pressure to 7,243 points on 20 May, its lowest level since late February.

All sectoral indices closed lower during the month. The industrial sector index fell by 418 points, the financial sector index declined by 342 points, the services sector index dropped by 93 points, and the Sharia Index fell by 33 points to close at 622 points.

Despite the overall decline, 33 securities recorded gains. Sohar Power Company posted the strongest performance, with its share price rising 80 percent from 188 baisa to 340 baisa. Shares of the National Bank of Oman increased by 13.8 percent, while Al Anqa Power Company rose by 13.5 percent.

Meanwhile, 65 securities declined. Al Hassan Engineering (under liquidation) recorded the largest drop, falling 60 percent from 20 baisa to 8 baisa. Oman Fisheries declined by 20 percent to close at 23 baisa, while OQ Basic Industries fell by 17 percent to 260 baisa.

In the bonds and sukuk market, trading value more than doubled from RO 2.1 million to approximately RO 4.5 million. Trading was led by Bank Muscat’s Tier 1 perpetual bonds, which recorded transactions worth RO 2.2 million.

Among debt instruments, Bank Oman Arab’s mandatory convertible bonds issued in 2024 registered the strongest gains, rising 48.3 percent from RO 1.11 to RO 1.50. Oman Finance bonds issued in 2022 increased by 25 percent, while Liva’s mandatory convertible bonds issued in 2024 rose 13.4 percent to close at 110 baisa.