The Muscat Stock Exchange (MSX) said its market capitalisation climbed to more than RO 32 billion in 2025, up from around RO 22 billion at the end of 2021, as Oman’s stock market completed five years under a new corporate structure aimed at reshaping the country’s capital market and attracting greater investment flows.
The exchange also reported a sharp rise in trading activity, with total trading value surging from about RO 818 million in 2021 to more than RO 5 billion in 2025 — an increase of more than 5.7 times in five years.
The figures highlight one of the most significant transformation phases in Oman’s financial market sector in recent years, following MSX’s transition in 2021 from the former Muscat Securities Market into a company owned by the Oman Investment Authority (OIA).
The restructuring formed part of broader efforts to position the exchange as a more commercially driven and internationally connected financial institution capable of supporting Oman Vision 2040, economic diversification and private-sector development.
Mohammed bin Mahfoudh al Ardhi, Chairman of MSX, said the transition gave the exchange greater flexibility to accelerate strategic initiatives and improve market competitiveness.
“The progress achieved in recent years was reflected not only in stronger market performance and higher market capitalisation, but also in building a deeper and more sustainable market ecosystem based on enhancing confidence, improving market efficiency, and expanding investment opportunities,” Al Ardhi said.
Over the past five years, MSX has introduced a series of structural, regulatory and operational reforms aimed at modernising the Omani market and aligning it more closely with international standards.
The exchange launched the OPTIQ trading platform, established dedicated risk, compliance and ESG functions, and introduced auction-based pricing mechanisms as part of efforts to improve transparency and operational efficiency.
MSX also expanded market infrastructure through the introduction of securities lending and short-selling regulations, electronic trading rules, liquidity-provider activity and the registration of the market’s first market maker.
In parallel, the exchange worked to broaden investment opportunities through renewed IPO activity, promotion of dual listings with GCC markets, expansion of investment products and the launch of the Alternative Investment Market (AIM), which targets growth-oriented and smaller companies.
MSX strengthened its regional and international profile by assuming the presidency of the Arab Federation of Capital Markets in 2023 and expanding engagement with investors and financial institutions in markets including the United Kingdom and the United States.
The exchange said sustainability had become a central pillar of its strategy, with the launch of Oman’s first national ESG disclosure guide and adoption of the GCC unified ESG framework as global investors increasingly focus on governance and sustainable finance standards.
MSX linked the market’s recent growth to broader improvements in Oman’s economic environment, including stronger fiscal indicators, lower public debt levels, improved sovereign credit ratings and rising investor confidence.
The exchange said it would continue focusing on deepening market liquidity, expanding investment instruments and strengthening integration with regional and international financial markets as it enters its next phase of development.
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