The Oman Stock Market ended the week lower as investors remained cautious about regional developments. The MSX 30 index fell 0.65% to 7,554.13 points. Trading activity also weakened during the week. Share turnover declined 14.81%, while traded volumes dropped 21.25%. Meanwhile, renewed US-Iran discussions provided some support for market sentiment.
However, uncertainty around maritime activity limited the recovery. Investors also continued watching developments around the Strait of Hormuz. Hopes for a reopening raised expectations for improved regional trade. However, shipping disruptions continued to create uncertainty. Softer oil prices also added pressure, especially as Oman crude prices declined.
Global monetary policy also remained an important market factor. Investors followed comments from US Federal Reserve officials after the latest rate decision. Expectations for potentially higher rates continued to influence financial markets. Stronger US economic data also supported those expectations. The latest US business activity reading reached its highest level since July 2021.
Consequently, investors remained alert to possible changes in interest rate policy. Higher rates can affect market sentiment across emerging and regional markets. Therefore, Oman’s market remained sensitive to both global and regional developments. At the same time, traders continued to monitor energy prices and shipping conditions.
Sector performance remained mixed across the Oman Stock Market. The industrial sector gained 0.17% and closed at 9,907.92 points. Oman Cement led gains with a 5.18% increase during the week. Jazeera Steel Products also advanced by 0.54%. However, Voltamp Energy declined 1.60%. OQ Base Industries fell 1.56%, while Oman Cables Industry slipped 0.15%.
The services sector recorded a larger decline during the period. Its index fell 0.67% to finish at 3,009.25 points. Asyad Shipping recorded the biggest sector decline at 7.96%. Renaissance Services dropped 2.81%, while Ooredoo declined 1.88%. Al Batinah Power also fell 0.51%.
Meanwhile, several service companies recorded gains despite the broader sector decline. Phoenix Power increased 2.17% during the week. Al Jazeera Services also gained 1.20%. The financial sector faced more limited pressure. Its index declined 0.29% and ended at 13,578.28 points. Sohar International Bank fell 2.08%. Al Anwar Investment declined 1.91%, while Omnivest dropped 0.98%.
However, Bank Dhofar, Bank Nizwa, Bank Muscat, and National Bank of Oman posted modest gains. As a result, performance varied across individual financial stocks.
The Oman Stock Market may continue reacting to regional and global developments. Traders are closely watching progress in US-Iran discussions. They are also monitoring any developments involving the Strait of Hormuz. Improved shipping conditions could support investor confidence.
However, continued disruptions could keep market risks elevated. Oil prices will also remain important for market sentiment. In addition, further signals from the Federal Reserve could influence international markets. For now, investors appear focused on geopolitical developments, energy prices, and monetary policy.
