Saturday 15 / March / 2025
Muscat: The Omani stock market experienced a slightly negative performance during the week, marking its fifth consecutive week of losses. This downward trend reflects the broader regional market performance, where most markets ended negatively, according to an industry watcher.
“Sentiment remains exposed to global conditions, particularly the escalating trade tensions as the US implements tariffs on its economic partners. This has prompted retaliatory measures, increasing overall economic uncertainty,” said Ahmed Negm, Head of Market Research MENA at XS.com.
Oil prices have also had a significant impact on the Omani market, especially considering the current low levels and the commodity’s critical importance for regional economies, even though prices stabilised this week at their support levels, he further said. “The Omani stock market, like other regional markets, could continue to be influenced by developments in trade tensions and oil price movements, while any improvements could potentially help the market recover,” said Ahmed Negm.
The Omani market saw the introduction of Asyaad Shipping, the first initial public offering (IPO) in the Omani market this year. This follows a successful offering that enriches the market’s diversity and increases its appeal to international investors, providing a positive note amidst the current challenging market conditions.
Performances on the sector level this week were mixed across the Omani stock market. The Industrial sector emerged as the worst performer with a decline of 2.66%. Within this sector, Oman Cement fell by 1.42%, while Oman Flour Mills experienced a more significant drop of 8.06%. Al Anwar Ceramic also contributed to the sector’s poor performance with a 5.83% decrease.
The Services sector similarly finished on the negative side, declining by 0.99%. In this segment, Oman Telecom saw a modest decrease of 0.25%, while OQ Gas Networks fell by 0.77%. Renaissance Services registered a more substantial decline of 4.64%, further weighing on the sector’s overall performance.
The Financial sector stood out as the only positive performer this week, demonstrating resilience amidst the broader market weakness. National Bank Oman led this sector with a 7.14% gain and was the market’s most traded stock based on value and volume. Oman Emirates Holding rose by 1.56%, while Muscat Insurance delivered the strongest performance with a substantial rise of 45.94%.
