MSX breaks 6,000 for first time in nine years

MUSCAT: The Muscat Stock Exchange (MSX) has crossed the 6,000-point threshold for the first time in more than nine years, marking a historic milestone for Oman’s capital market and reinforcing its position as the best-performing stock exchange in the Gulf Cooperation Council (GCC).

The MSX 30 Index breached the 6,000-point level in early 2026, a mark last seen in the third quarter of 2016. The move reflects sustained positive momentum built over several years, underpinned by regulatory reforms, market development initiatives and improving investor confidence. Since the start of 2026, the benchmark index has already gained around 3 per cent compared to its 2025 close, extending the strong upward trajectory established last year.

Haitham al Salmi, Chief Executive Officer of the Muscat Stock Exchange, described the breakthrough as a defining moment for the market. “Reaching the 6,000-point level is a significant milestone in the history of the Muscat Stock Exchange, a level the MSX 30 index had not achieved since the third quarter of 2016”, he said. “This performance reflects a cumulative upward trend over the past five years following the exchange’s legal transformation and the successful implementation of regulatory and developmental strategies, which paved the way for breaking this historic level in early 2026”.

The rally has been supported by a sharp improvement in key market indicators. Market capitalisation rose by about 16 per cent over the past year to exceed RO 32 billion, while total trading value surged by more than 300 per cent to reach RO 5.04 billion. Average daily trading value climbed to around RO 20.4 million, also representing an increase of over 300 per cent compared with the previous year. These gains point to deeper liquidity, higher trading activity and stronger participation from both local and foreign investors.

The MSX’s resurgence builds on a standout performance in 2025, when Oman emerged as the top-performing equity market in the GCC. According to data from Vision Capital and Kamco Invest, the MSX 30 Index surged by 28.2 per cent over the year, significantly outperforming regional peers amidst widely divergent market conditions across the Gulf.

By comparison, Saudi Arabia’s equity market declined by 12.8 per cent in 2025, making it the weakest performer in the region. Abu Dhabi posted a gain of 6.1 per cent, while Dubai advanced by 17.2 per cent, supported mainly by selective strength in real estate and services-related stocks. Qatar recorded a marginal increase of 1.8 per cent, Bahrain rose by 4.1 per cent, and Kuwait ranked second in the GCC with a gain of 21.2 per cent, still well below Oman’s pace.

Several structural factors have supported the MSX’s outperformance. These include the diversification of listed securities through a series of initial public offerings by the Oman Investment Authority, initiatives under the National Programme for Fiscal Sustainability and Financial Sector Development (Estidamah); and the activation of liquidity providers and market makers to enhance depth and trading balance. Together, these measures have reduced concentration risk, improved investment efficiency and broadened the investor base.