MUSCAT - The Muscat Stock Exchange (MSX) emerged as the GCC’s top-performing market in October 2025, extending its winning streak for the fourth consecutive month with an impressive 8.3 per cent gain. The MSX Index closed the month at 5,610.34 points — its highest level in eight years — marking another milestone in Oman’s capital market performance. In the latest Kamco Invest report, the index’s rise was attributed to broad-based gains across all three sectoral indices, supported by strong trading activity and investor optimism.

The Services Index led the rally with a notable 9.0 per cent increase, followed closely by the Financials Index, which climbed 8.3 per cent to close at 9,228.6 points. The Financials’ growth was driven primarily by solid share price appreciation in key companies such as Ominvest (+25.8%) and Sohar International (+9.6%). Meanwhile, the Services sector saw strong performance from Salalah Port Services Co (+23.5%) and Al Batinah Power Co (+26.8%). The Industrials Index rose by a more moderate 2.9 per cent, reflecting mixed results among its constituent firms.

Among individual stocks, Asyad Shipping Company dominated the monthly performance chart, surging by 35.9 per cent. The company recently announced the acquisition of three Newcastlemax Dry Bulk Carriers valued at around $209 million, a move aligned with its fleet expansion and regional growth strategy. National Aluminium Products Co followed with a 29.4 per cent rise, while Al Batinah Power Co gained 26.8 per cent after reporting nine-month 2025 net earnings of RO 16.35 million, up from RO 15.97 million a year earlier. The improvement in earnings was largely due to lower finance costs.

On the downside, The Financial Corporation Co saw the steepest decline, with shares falling 14.3 per cent. Al Maha Ceramics Co and Muscat Insurance Co also recorded losses of 13.9 per cent and 11.2 per cent, respectively.

Trading activity on the MSX surged notably during the month. Total traded volume increased by 132.4 per cent to 5.4 billion shares, compared to 2.3 billion shares in September 2025. Similarly, the total value of shares traded rose by 109.7 per cent to RO 1.1 billion from RO 505 million in the previous month. Sohar International led the market in both value and volume traded, with RO 1.4 billion worth of transactions and 221.1 million shares exchanged. OQ Base Industries and Asyad Shipping Company followed closely, with trading values of RO 995.0 million and RO 835.1 million, respectively.

Regionally, GCC equity markets posted gains for the second consecutive month, reflecting improved investor sentiment amidst easing global financial conditions. The MSCI GCC Index rose 1.2 per cent in October, supported by progress in trade talks between the United States and its partners; and the implementation of a 25 basis-point rate cut by the US Federal Reserve and most GCC central banks. Qatar was the only market to decline, falling 0.9 per cent due to weakness in large-cap stocks.

Oman’s standout performance placed it as the GCC’s best-performing market in October and the second strongest since the start of 2025, with total year-to-date gains of 22.6 per cent, just behind Kuwait’s 22.7 per cent rise — reinforcing growing confidence in Oman’s financial markets and economic resilience.

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