Saturday 29 / August / 2026
Muscat: The Omani stock market rose for another week, with the MSX 30 index up 0.13% to close at 7,532 points. Overall market capitalisation still edged lower by 0.01% week-on-week, driven by softer performance in the parallel market.
The value of shares traded declined by 55.08%, while the number of shares traded fell by 51.89%.
In parallel, the US economic sanctions announcement against Iran weighed on investor sentiment at the beginning of the week and fuelled some uncertainty, said an industry watcher. “The expansion of secondary sanctions risks to Iran’s trading partners and enablers raised concerns about potential spillover effects on regional trade and shipping,” said Daniel Takieddine Co-founder and CEO, Sky Links Capital Group.
“Crude oil prices declined throughout the week amid renewed hopes of a reopening of the Strait of Hormuz. The energy market could remain under pressure, but prices could retreat further if diplomatic efforts deliver material progress and actual improvements in shipping conditions,” he added further.
At the sector level, the financial sector index rose by 1.02% during the week, closing at 13,383 points. National Bank Oman, Bank Muscat and Bank Nizwa recorded strong performances, advancing by 3.16%, 3.03% and 2.11% respectively. Al Omaniya Financial Services slipped by 2.67%, and Madina Takaful declined by 1.80%.
The services index eased by 0.11%, closing at 3,014 points, weighed by OQ Exploration and Production and Oman Telecom, which recorded losses of 2.29% and 2.00%, respectively. Sembcorp Salalah gained 2.00%, while Phoenix Power increased by 0.72% and Ooredoo climbed by 0.32%.
The industrial sector traded higher by 0.74% this week, finishing at 9,484 points, supported by gains in Oman Cables Industry and Oman Cement, which jumped by 3.09% and 2.41% respectively. Jazeera Steel Products increased by 0.11%, while Voltamp Energy fell by 0.58%.
Meanwhile, markets also monitored US inflation signals and Fed Warsh’s address at Jackson Hole, Daniel Takieddine said adding that the Federal Reserve is expected to raise its interest rates in September, with another hike anticipated next year. “Higher US interest rates could eventually weigh on global risk appetite and equity valuations, including on the MSX,” he said.
“Looking ahead, sentiment could be shaped by whether diplomatic progress materialises into an actual reopening of the shipping corridor, and eases concerns regarding traffic through the Strait of Hormuz. Traders will likely monitor oil price movements and any U.S economic data that could shift interest rate expectations as well,” he added.
