Muscat bourse index up 31%, trading volumes quadruple in 2026

Summary

• Muscat Securities Exchange index rose about 31% in the first nine months of 2026.
• Trading volumes reached 10.3 billion Omani rials, against 2.4 billion a year earlier.
• A FTSE Russell watch-list placement puts the market in line for larger foreign inflows.

The latest

The Muscat Securities Exchange index gained roughly 31% between January and the end of September 2026, with trading volumes reaching about 10.3 billion Omani rials against some 2.4 billion in the same period of 2025, according to Oman News Agency. Executives attributed the run to stronger earnings at listed companies, deeper liquidity and the exchange's placement on the FTSE Russell watch list.

Details

• The headline numbers: The index advanced about 31% since the start of the year, according to Oman News Agency. Trading volumes over the nine months hit roughly 10.3 billion Omani rials, more than four times the 2.4 billion rials recorded in the corresponding period of 2025.
• Daily turnover: Average daily trading rose from around 40 million Omani rials to between 70 million and 90 million rials on some sessions, according to Oman News Agency. The report did not identify which sessions produced the upper range.
• The explanation: Mustafa bin Ahmed Salman, chairman and chief executive of United Securities, told Oman News Agency the performance reflects a positive growth phase underpinned by improved results at listed companies, rising investor confidence and increased liquidity in the market.
• Where the earnings came from: Salman singled out companies operating in oil and petroleum products as the main contributors to the stronger corporate results behind the rally. He did not break down the sector's share of the index gain or name individual listings.
• The FTSE Russell factor: Salman said the exchange's inclusion on the FTSE Russell watch list is expected to strengthen its investment appeal and open wider channels for domestic and foreign capital inflows. No timetable for an upgrade decision was given.
• The listings pipeline: The market saw a single initial public offering in 2026, the Oman India Fertiliser Company, according to Oman News Agency. At least three companies are expected to be offered for public subscription in 2027, though the names were not disclosed.
• The liquidity question: The jump in daily turnover is the clearest measure of the shift, moving the exchange from thin-volume sessions toward levels that large institutional investors typically require before building positions in a frontier or emerging market.

Background

FTSE Russell watch-list status is a formal step before a market can be reclassified in the index provider's global equity series. An upgrade typically triggers mechanical buying from passive funds that track those benchmarks.

Between the lines

The two figures reinforce each other: a 31% index gain on quadrupled volumes points to new money entering rather than the same capital rotating. That matters for the FTSE Russell file, where liquidity depth and tradability are core assessment criteria. Salman's framing ties the rally to oil-linked earnings, which also makes the run sensitive to any reversal in crude prices.

What's next

Watch FTSE Russell's next classification review for any move beyond watch-list status, full-year 2026 earnings from oil and petroleum listings, and the timing and identity of the three IPOs expected in 2027.

Source: Oman News Agency