RIYADH: The Muscat Stock Exchange extended its rally for a fifth consecutive week, with market capitalization rising to 28 billion Omani rials ($72.8 billion) in the week ending June 7.
Driven by gains in key services and industrial stocks, the benchmark MSX index rose 17 points to close at 4,578, reflecting improved investor sentiment and increased activity across sectors, the Oman News Agency reported. The bourse recorded a weekly market capitalization gain of 79.3 million rials.
This comes as markets across the Middle East and North Africa rallied in early 2025, with the Arab Monetary Fund’s May report showing its Composite Index rising 4.37 percent year on year, supported by reforms to boost liquidity and attract foreign investment.
“Last week witnessed a good performance for the stock market, with 34 securities rising, 30 declining, and 17 remaining stable,” the Oman News Agency report stated.
It added: “Muscat Gases recorded the highest increase, rising 18 percent to close at 118 baisas. Galfar Engineering and Contracting rose to 72 baisas, up 9 percent. National Gas recorded an 8.8 percent increase to close at 86 baisas.”
