Muscat: The Muscat Stock Exchange's main index fell 52 points last week, impacted by declines in several leading stocks amid selling pressure following the start of the initial public offering (IPO) of Oman India Fertilizer Company (OMIFCO). OMIFCO is offering 25% of its capital, equivalent to 1.6723 billion shares, at a price of 156 baisa per share for individual investors and between 146 and 156 baisa per share for institutions. According to Yemen News Agency, on Saturday, investors on the Muscat Stock Exchange are seeking to generate additional liquidity for the new IPO by selling shares in which they have recently profited. This has put downward pressure on the main index and sectoral indices. The Muscat Securities Market's main index closed at 7,582 points, declining for the third consecutive week. The industrial sector index fell by 47 points, the services sector index dropped by 34 points, and the Sharia-compliant index declined to 601 points, a decrease of approximately 10 points. Conversely, the f inancial sector index rose for the fourth consecutive week, closing at 13,053 points, up 19 points. This increase was driven by gains in shares of Bank Muscat, Oman Arab Bank, Bank Nizwa, Ahli Bank, and several other investment companies included in the price index sample. The total market capitalization of the Muscat Stock Exchange rose during the past week to 36 billion and 704.2 million Omani riyals, recording weekly gains of 47.1 million Omani riyals, benefiting from the rise witnessed by the bonds and sukuk market, whose market value rose to exceed 5 billion and 414 million Omani riyals, recording weekly gains of 122.7 million Omani riyals, benefiting from the listing of the eleventh issue of sovereign sukuk with a value of 120 million Omani riyals, and the listing of free sukuk for Bank Nizwa with a value of about 10 million Omani riyals.
Wednesday, August 19, 2026