MUSCAT: The Muscat Stock Exchange (MSX) has witnessed exceptional activity this year, with trading volumes during the first eight months of 2025 reaching approximately RO 1.9 billion — an increase of 152% compared to the same period last year.
The daily trading average in August rose to around RO 25 million, the highest recorded in 2025, compared to RO 20.3 million in July and RO 12.7 million in June. The lowest averages were seen in January (RO 3.7 million), April (RO 5.4 million), March (RO 6.2 million) and May (RO 7.1 million).
Haitham bin Salem al Salmi, CEO of the Muscat Stock Exchange, stated that the trading volumes reflect active market-making and liquidity enhancement efforts. This growth has been supported by the activation of two liquidity support funds. He noted that the 2025 volumes have already surpassed the total of the previous year, driven by positive market sentiment and increased investor engagement. This led to a 5.2% increase in the MSX index by the end of August compared to the end of 2024 and an 8% rise in market capitalisation over the same period.
He revealed plans to list new companies affiliated with the Oman Investment Authority in 2026, hoping early announcements will allow investors to prepare. He urged investors to adopt informed investment practices, such as reviewing company disclosures and financial statements before making decisions and considering regional geopolitical and economic developments.
Al Salmi emphasised that listed companies on MSX performed well, with combined profits reaching RO 881 million in the first half of 2025, up 20% compared to the same period in 2024. Dividend payouts also increased, attracting investors to high-growth and high-dividend companies.
He added that IPOs held last year helped expand the market with new sectors and diversified financial instruments, enabling investors to broaden their portfolios. These developments have supported trading activity and market vibrancy. Looking ahead, Al Salmi expressed optimism that the government's ongoing privatisation and IPO programmes would further energise the market and help MSX advance towards being classified as an emerging market.
Ahmed bin Ali al Maamari, Deputy CEO of the Capital Market Authority (CMA), stated that the authority, in cooperation with relevant stakeholders, has launched several initiatives to stimulate and develop the capital market in Oman. This includes coordinating to list more companies on MSX, encouraging them to rely on the market to fund their expansion plans, which boosts market depth and attracts both local and foreign capital.
He highlighted that by the end of 2024, MSX’s market capitalisation had increased by 15.93% compared to 2023. This year, the upward trend continued, reaching RO 29.82 billion by the end of August 2025.
Al Maamari also pointed to the launch of a national capital market stimulus programme, which aims to bolster investor confidence. The programme includes a package of incentives to improve the investment and business climate and expand access to diversified financing options.
Among the regulatory enhancements is the licensing of several market participants — three local companies and one foreign market maker — to support market-making and liquidity provision, contributing to free float shares and overall market efficiency.
He added that the CMA is working to simplify the investor journey by launching digital trading platforms for licensed brokerage firms, making investment more accessible and efficient. These efforts have led to improved market performance, driven by the effective use of these tools and the involvement of both institutional and individual investors. The CMA also aims to introduce new financial instruments and strengthen the role of licensed firms, especially brokers. — ONA
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