Saturday 26 / April / 2025
Muscat: The Omani stock market experienced a decline this week, with the main index falling by 0.73%, according to an industry expert. “
The market reversed gains from the previous week and continued its recent downtrend, contrasting with the stronger performances observed in other markets in the region,” said Abdullah Mahfoodh Al Wahaibi, Coach and analyst in global financial markets.
“Globally, market sentiment saw some improvement due to easing trade tensions between the US and China. However, the impact was more limited on the Omani stock market, although local sentiment could improve if trade risks subside,” he added.
Simultaneously, oil prices retreated this week following some gains. Uncertainty lingered due to persistent oversupply concerns and ongoing US-China trade tensions. Additionally, potential progress towards peace in Ukraine and anticipated Opec+ output increases scheduled for May contributed to market caution. “This decline in oil prices weighed on the Omani market, particularly given the relatively low price levels at which oil is currently trading,” said Abdullah Mahfoodh Al Wahaibi.
“Within the Omani market, the value and volume of shares traded decreased significantly, roughly halving compared to the previous week. While several companies released earnings last week, anticipation is building for further earnings reports next week. Strong results could potentially provide support and boost the market,” he further added.
Sector performance within the Omani market was mixed during the week. The Financial sector faced the most significant decline, retreating by 0.95%. The sector index was affected by losses in major constituents, including Bank Muscat, which decreased by 0.79%, Sohar International Bank, which fell 1.52%, and Ominvest, which saw a steeper decline of 4.35%.
Similarly, the Services sector also ended the week in negative territory, registering a loss of 0.71%. Several key companies within the sector contributed to this performance, with Abraj Energy Services down 0.44%, OQ Gas Networks lower by 0.78%, and Oman Telecom shedding 0.25%.
In contrast to the declines in the financial and services sectors, the Industrial sector managed a marginal gain, edging up by 0.05%. This slight positive performance was supported by gains in stocks such as Al Anwar Ceramic Tiles, which rose 3.25%, and Oman Flour Mills, advancing 4.10%. However, not all industrial stocks gained, as exemplified by Voltamp Energy, which declined by 1.04%.
