Muscat – Oman’s Muscat Stock Exchange (MSX) has emerged as the best-performing stock market in the GCC region for October and the second-best performer so far this year, following a remarkable run of four consecutive months of gains.

The benchmark index of the MSX recorded its fourth straight monthly increase in October, posting the highest monthly gain in the GCC at 8.3%. Bahrain and Dubai followed with monthly rises of 5.9% and 3.8%, respectively, according to a research report by Kuwait-based Kamco Investment.

“The steady performance in Oman enabled the MSX to secure the second-best gains in the GCC since the start of the year, at 22.6%, while Boursa Kuwait retained the top spot with a gain of 22.7%,” the report noted.

Kamco Investment highlighted that the broader GCC equity index also posted gains for the second consecutive month in October, reflecting positive investor sentiment across global financial markets. Several regional and international markets touched record highs during the month. The MSCI GCC index rose by 1.2%, buoyed by healthy gains during the final week of October.

Qatar was the only market to register a monthly decline, slipping 0.9% due to falls in large-cap stock prices, while the remaining GCC markets closed the month in positive territory.

The MSX30 Index concluded October at 5,610.34 points, having surpassed its highest level in eight years on September 29, 2025. The month’s advance was broad-based, with all three sectoral indices posting gains. The Services Index led the surge with a notable 9.0% rise, followed by the Financials Index, which increased by 8.3% to close at 9,228.6 points.

In terms of individual stock performance, Asyad Shipping Company led the monthly gainers with a remarkable 35.9% increase. National Aluminium Products followed with a 29.4% rise, while Al Batinah Power recorded a 26.8% gain. Among the decliners, The Financial Corporation posted the steepest fall of 14.3%, followed by Al Maha Ceramics and Muscat Insurance, which declined by 13.9% and 11.2%, respectively.

Trading activity on the MSX surged sharply during October. Total traded volumes increased by 132.4% to reach 5.4bn shares, compared with 2.3bn in September. Similarly, the total value of shares traded rose by 109.7%, reaching RO1.1bn, up from RO505mn the previous month.

Sohar International Bank topped the monthly value-traded ranking with RO1.4bn worth of transactions, followed by OQ Base Industries and Asyad Shipping Company, which recorded RO995mn and RO835.1mn, respectively. By trading volume, Sohar International Bank also led with 221.1mn shares exchanged, followed by Bank Muscat (165.9mn shares) and OQ Base Industries (161.3mn shares).

The MSX has recorded its strongest performance in nearly a decade, crossing the 5,000-point mark for the first time in eight years, as reforms driven by the Oman Investment Authority (OIA) continue to enhance liquidity, listings, and investor confidence.

MSX trading volumes have surged more than fivefold, rising from RO645mn in 2021 to over RO3.25bn during the first ten months of 2025. Market capitalisation reached RO30.53bn in October 2025, up 51% from RO20.24bn in 2020, reflecting the positive impact of OIA’s initiatives to strengthen the MSX and align it with Oman Vision 2040 objectives.

The Omani market’s transformation followed Royal Decree No 5/2021, which converted the MSX into a closed joint-stock company wholly owned by the OIA. This structural change enabled targeted interventions, including liquidity injections, institutional investment initiatives, and a steady pipeline of public offerings, all of which have revitalised trading activity and boosted market confidence.