Muscat Stock Exchange Sees Higher Institutional Buying Amid Market Decline

Muscat:  Local investment funds and institutions increased their purchases on the Muscat Stock Exchange (MSX) last week, as share prices declined amid increased selling activity by investors seeking liquidity to subscribe to the initial public offering (IPO) of Oman India Fertilizer Company.

Purchases by local investment funds and institutions reached RO 132.1 million during the week, compared to RO 114 million in the previous week.

Total trading value increased by 16.7 percent to RO 162.6 million, up from RO 139.3 million in the preceding week. The number of executed transactions also rose by 21.5 percent, exceeding 38,000 transactions compared to around 31,000 transactions a week earlier.

During the week, the prices of 54 securities declined, while 24 securities recorded gains and 16 securities closed unchanged.

Trading data issued by the Muscat Stock Exchange showed that local investment funds and institutions accounted for 81.2 percent of total purchases and 75 percent of total sales by value, reflecting continued efforts to increase holdings and diversify investment portfolios by acquiring shares that had declined in recent weeks.

The most actively traded stocks by value included Bank Sohar International, Bank Muscat, OQ Basic Industries, OQ Gas Networks and the National Bank of Oman.

Several leading stocks recorded declines during the week, including Bank Muscat, Bank Sohar International, OQ Exploration and Production, OQ Gas Networks, Abraj Energy Services, Omantel and OQ Basic Industries, contributing to declines across the market’s main and sector indices.

The MSX 30 Index fell by 265 points to close at 7,316 points. The financial sector index declined by 287 points, the services sector index by 74 points, the industrial sector index by 43 points, while the Sharia Index dropped 16 points to close at 584 points.

The market has faced downward pressure since mid-May, pushing the benchmark index below the 8,000-point level. Market activity is expected to improve as selling pressures ease, surplus funds return following the IPO and listed companies begin announcing preliminary financial results for the first half of 2026.

Market capitalisation declined by RO 537.6 million during the week to RO 36.166 billion.

Among the biggest decliners, Al Batinah Development and Investment fell 17.6 percent to 70 baisas, Oman Chlorine declined 10.8 percent to 165 baisas, Muscat Insurance dropped 9.9 percent to 600 baisas, and Al Sharqiyah Desalination fell 8.5 percent to 160 baisas.

On the gainers’ side, Oman Packaging rose 9.9 percent to 199 baisas, Al Maha Petroleum Products Marketing increased 8 percent to RO 1.140, Salalah Port Services gained 6.5 percent to 485 baisas, and Oman Educational and Training Investments advanced 5.8 percent to RO 1.800.