Oman Financial Sector Index Surges Above 13,200 Points on Bank Gains

Oman Market Rally Pushes Financial Sector Index to Highest Level Since 2008

Muscat: The financial sector index on the Muscat Stock Exchange recorded strong gains last week, rising by 425 points to surpass the 13,200-point level, supported by the performance of banking and investment stocks alongside the announcement of preliminary financial results for the first quarter of 2026.

The index closed at 13,294 points, marking its highest level since August 2008. The financial sector index had previously crossed the 13,000-point mark in early 2008 before peaking above 16,000 points in June of that year.

The Muscat Stock Exchange saw positive activity during the week, with 48 securities posting gains, while 37 declined and 14 remained unchanged.

The main index rose by 174 points to close at 8,336 points. In contrast, sectoral indices recorded declines, with the industrial index falling by 29 points to 10,073 points, the services index down by 23 points, and the Sharia index decreasing by 13 points to 654 points.

Banking stocks were among the most active, with Bank Sohar International shares rising by 14 baisa to close at 236 baisa. Bank Muscat shares increased by 9 baisa to 487 baisa, while Bank Dhofar shares gained 24 baisa to close at 225 baisa, supported by trading activity exceeding OMR 2.1 million.

Investment stocks also contributed to the gains, with International Financial Investments rising by 33 baisa to 343 baisa. Ominvest shares increased by 9 baisa to 394 baisa, while United Finance shares edged up by 2 baisa to 88 baisa.

Trading value on the exchange rose by 39 percent to OMR 430.2 million, compared to OMR 309.1 million in the previous week. The number of transactions reached 32,754, while market capitalization increased to OMR 38.6 billion, recording weekly gains of OMR 657.6 million.

Bank Sohar International topped the list of most traded companies by value at OMR 124.1 million, followed by OQ Basic Industries at OMR 96.9 million, Bank Muscat at OMR 56.8 million, OQ Exploration and Production at OMR 54.1 million, and Omantel at OMR 32.5 million.

In terms of top gainers, Financial Center shares rose by 32 percent to close at 66 baisa, followed by Raysut Cement, which increased by 20.8 percent to 180 baisa. Oman and Emirates Investment Holding gained 19.3 percent to 173 baisa, while Building Materials Industries rose by 18.8 percent to 82 baisa. Oman Fisheries increased by 16.6 percent to 28 baisa.

On the losing side, Al Madina Investment shares declined by 9.7 percent to 37 baisa. Al Safa Foods dropped by 9 percent to 800 baisa, Oman Chlorine fell by 8.2 percent to 200 baisa, Leva Group declined by 7.8 percent to 341 baisa, and Renaissance Services decreased by 7.5 percent to 378 baisa.