Sunday 15 / June / 2025
Muscat: The Omani stock market posted a negative performance during the week, declining by 0.78%. Its performance was similar to other markets in the region, with a fall on the last day of trading impacted by the latest geopolitical developments, according to an industry expert.
“This led to a risk-off behaviour, prompting investors to move towards safe-haven assets,” said George Pavel, General Manager at Naga.com Middle East.
This week's performance came after six consecutive weeks of positive recovery in the market, which followed a long period of decline. “While this week's losses were limited, the escalations in the regional geopolitical sphere indicate potential for continued fear and pressure in the market next week,” said George Pavel.
“Oil prices experienced a strong jump this week, especially following military operations in Iran. While a higher oil price could be beneficial to the economies in the region, geopolitical risks could continue to weigh on stocks,” he added.
The downturn was felt across all sectors, with the Industrial sector leading the losses with a 1.44% decline. Significant drops were seen in Al Anwar Ceramic, which plunged 6.09%, and Al Maha Ceramics, which decreased by 4.21%. Gulf Mushroom Products also contributed to the sector's negative performance with a 0.45% fall.
Similarly, the Services sector registered a 0.79% loss. Among its constituents, OQ Gas Networks was notably active as one of the week's most traded stocks, closing 1.27% lower. Other decliners included National Gas with a steep 6.45% drop, Asyad Shipping which fell by 1.6%, and Oman Telecom which was down 0.71%.
The Financial sector also contributed to the market's negative trend, recording a 0.56% decline. This drop was influenced by a 6.21% fall in Bank Dhofar's shares. Other notable losses in the sector included Oman Emirates, which decreased by 4.05%, and Global Financial Investment, which fell by 0.94%.
