The total market capitalisation of companies listed on the Muscat Securities Market increased by 39% month on month in March, reaching OMR5.93B ($15B), despite ongoing regional uncertainties related to the conflict involving Iran.
The MSM index rose by 11% to close at 8,168 points, reflecting a robust performance during a turbulent period, according to a recent report from the bourse. Total turnover reached OMR1.426B, a 22% rise from the previous month.
The surge in market activity has been attributed to heightened trading within the finance and energy sectors, although specific factors driving this increase were not disclosed.
Dominating the trading landscape in March, Sohar International Bank recorded the highest volume with OMR272M, followed by Bank Muscat at OMR242M and OQ Base Industries at OMR211M. This strong performance serves as a testament to investor confidence amidst prevailing geopolitical risks.
The MSM’s leadership has indicated plans for three IPOs within the year, as the government seeks to incentivise privately owned firms to list by offering tax waivers, preferential access to government contracts, and additional concessions.
While Oman has been relatively insulated from the direct impacts of the US-Israel conflict with Iran, it has nonetheless experienced some attacks, affecting various areas including Sohar, Salalah, and Duqm.
Stay Up to Date with the Latest Updates at Finance ME
MSX: Oman’s Stock Market Rally Signals Structural Shift
botim Head of Business: AI is Making Remittances More Human
Hormuz Disruption Delays than Cancels GCC IPO Pipeline
