Muscat Stock Exchange Outperforms GCC Rivals in First Half of 2026

The Muscat Stock Exchange (MSX) recorded the best performance among Gulf Cooperation Council (GCC) stock exchanges in the first half of 2026, with its main index rising by 28 percent. This strong showing positioned the MSX as a leader in the region. The MSX also topped Gulf markets in the growth rate of trading value, which jumped by 650 percent during the period. This significant increase shows the heightened activity and investor interest in the Omani market. Gulf stock exchanges experienced volatile performance in the first half of 2026, pressured by geopolitical factors. Amidst this volatility, the Muscat Stock Exchange and the Saudi market both managed to close higher, demonstrating resilience. Other Gulf stock exchanges recorded declines ranging between 1 and 5 percent over the same period, noting the MSX's exceptional performance.

Record Growth and Market Capitalization

The Muscat Stock Exchange (MSX) main index surpassed 7,500 points during the first half of 2026, a key milestone. The index registered three record levels within this period, reaching 6,000 points in January, 7,000 points in February, and 8,000 points by March 29. By March 29, 2026, the MSX main index had attained its best levels since 2008, signaling a strong recovery and growth trajectory.

On May 4, 2026, the MSX main index recorded its highest gains, climbing to 8,397 points. This peak further solidified its impressive half-year performance. The index concluded June trading at 7,507 points, having added 1,641 points over the preceding six months. This consistent upward trend contributed significantly to investor confidence.

The total market capitalization of the Muscat Stock Exchange increased to OMR36.72 billion by the close of the first half of 2026. This figure represents gains estimated at OMR4.71 billion when compared to its level in December 2025, reflecting substantial value creation for shareholders. The growth in market capitalization is a direct indicator of the increasing value of listed companies and the overall health of the exchange.

Surge in Trading Activity

The Muscat Stock Exchange (MSX) saw its trading value approach OMR7 billion in the first half of 2026, reaching a total of OMR6.9 billion. This figure marks a significant increase compared to OMR917.2 million recorded in the same period of 2025 and OMR711.5 million in the first half of 2024, demonstrating a remarkable acceleration in trading volume over recent years. The substantial rise in trading value shows the increased liquidity and investor participation in the market. The number of transactions executed on the MSX also rose substantially, reaching 733,000 in the first half of 2026. This is a considerable jump from 147,000 transactions in the comparable period of 2025 and 133,000 in the first half of 2024, indicating a much higher frequency of trading activity.

Monthly trading values showed fluctuations, with April 2026 recording the highest trading value at OMR1.5413 billion. March 2026 saw trading valued at OMR1.4264 billion, while February 2026 registered OMR1.2947 billion. These figures highlight periods of intense market activity. June 2026 recorded the lowest trading value for the period at OMR776.1 million, despite the overall strong half-year performance. Despite the lower trading value in June, that month also recorded the highest number of transactions executed, with 159,000, suggesting a higher volume of smaller trades.

Investor Confidence and Company Performance

The Muscat Stock Exchange attracted increased liquidity from local and Gulf investment funds and institutions during the first half of 2026. This influx of capital signals growing trust and interest in the Omani market's potential. Eight public shareholding companies listed on the MSX were among the top 30 companies that recorded an increase in their share prices across Gulf stock exchanges in the first half of 2026. This impressive representation notes the strong performance of individual Omani companies. Overall, eight companies from the MSX entered the list of the top 30 companies in terms of percentage increase in stock prices on Gulf stock exchanges, showcasing their competitive edge within the regional market. Regarding transaction activity, April 2026 recorded the second-highest number of transactions executed on the exchange, with 131,000. February 2026 followed, ranking third in the number of transactions executed, totaling 122,000. These transaction volumes further illustrate the dynamic nature of the MSX during this period.