Sunday 01 / June / 2025
Muscat: The Omani stock market recorded its fifth consecutive day of positive performance this week, continuing its upward trajectory and further recovering recent losses. This sustained rally indicates strong underlying demand within the market, according to an industry watcher.
“This performance contrasts with broader regional trends, where markets largely continued to grapple with uncertainty, consistent with the previous week. Profit-taking was evident in some regional markets as external factors weighed on general sentiment,” said Joseph Dahrieh Managing Principal at Tickmill.
“However, the Omani stock market appeared more focused on positive internal developments, which have been bolstering investor confidence,” he further added.
While potential risks associated with lower oil prices and global economic uncertainty remain, these factors have seemingly had a less pronounced impact on the Omani market lately, said Joseph Dahrieh. Given recent positive developments and current momentum, the market appears well-positioned to potentially continue its upward trend in the near term.
“Reinforcing this positive sentiment are key national economic initiatives unveiled this week. The landmark UAE-Oman agreement to develop the Al Rawdah Special Economic Zone in Al Buraimi signals a substantial long-term boost,” said Joseph Dahrieh. “This joint venture is anticipated to attract considerable investment, stimulate cross-border trade and diverse economic sectors, thereby offering a sustained positive outlook for both the wider economy and the stock market,” he added further.
The Industrial sector led the gains, continuing its strong performance for a second consecutive week with a 5.89% increase. Within this sector, Al Anwar Ceramic was higher by 4.21% and Al Maha Ceramics by 13.75%, both maintaining their upward momentum. Oman Cables Industry surged by 16.50%. OQ Base Industries contributed to the positive trend with a gain of 1.75% and was the most traded stock in terms of both value and volume.
The Services sector also achieved a solid advance, rising by 2.29%. Key contributors included OQ Gas Networks, which gained 2.78%, and OQ Exploration and Production, which rose by 3.11%. In telecommunications, Oman Telecom edged higher by 0.60%, while Ooredoo recorded a strong performance, climbing 12.30%. National Gas also saw a significant increase of 8.22%.
The Financial sector posted a more modest gain of 0.42%. Sohar International Bank rose by 0.71%, and Al Anwar Investment climbed by 2.41%. Muscat Finance also performed well, increasing by 3.92%, while Al Sharqiyah Investment Holding registered a gain of 1.25%.
