Sohar Power and Energy Peers Top Gainers as MSX Index Climbs

Shares of Sohar Power led a broad rally on the Muscat Securities Market on Tuesday, jumping 10% to close at 0.22 Omani rials. The electricity generator was followed by two other energy names: Anqa Power rose 7.35% to 0.263 rials and Suwadi Power added 6.55% to 0.179 rials. The positive momentum extended to Muscat Finance, which climbed 4.84% to 0.065 rials, and OQ Basic Industries, up 3.83% at 0.244 rials.

On the losing side, Safa Foods topped the decliners with a 4% drop to 0.72 rials, joined by Dhofar Power Generation (-3.85% to 0.075 rials), Sharqiah Desalination (-2.42% to 0.161 rials), Barka Water and Power (-1.88% to 0.157 rials) and Majan College (-1.50% to 0.131 rials).

The benchmark MSX 30 index closed 0.86% higher at 7,247.19 points, gaining 61.81 points from Monday’s level. All three main sector indices advanced, with services leading at +2.08%, followed by industrial at +1.30% and financial at +0.44%. Trading activity picked up markedly: volume increased 19.75% to 201.2 million shares, and value rose 26.5% to 57.95 million Omani rials. OQ Basic Industries was the most actively traded stock by both volume (56.79 million shares) and value (13.69 million rials).

Behind the MSX Moves: Energy Rallies, Food and Water Stocks Slide

Energy names dominate the gainers’ list

Three power companies – Sohar Power, Anqa Power and Suwadi Power – accounted for the top three gainers on the day. No specific corporate announcement or sector-wide catalyst was immediately apparent, leaving the moves likely attributable to technical buying or positioning ahead of upcoming company updates. Still, the concentration of energy names at the top of the table underscored the appeal of Omani electricity generation stocks in Tuesday’s session, even as other utility-linked shares like Dhofar Power and Barka Water declined.

Consumer and utility stocks weigh on the downside

The losers list featured the food producer Safa Foods, which fell 4%, alongside water desalination and power generation companies. The divergence between gainers and losers within the broader energy-water complex suggests that Tuesday’s trading was driven more by stock-specific dynamics than by a unified sector theme. The $0.044 drop in Safa Foods shares stood out, while Dhofar Power’s 3.85% retreat indicated profit-taking after recent gains.

Services sector leads broad market advance

Despite the mixed signals from individual stocks, the headline index advanced on the back of strength in services, which surged 2.08%. This performance likely reflects a rotation into consumer-facing and financial services names, while the more moderate 0.44% rise in the financial index suggests bank stocks were less in focus. The increase in trading volumes – up nearly 20% – points to a reactivation of local investor interest, possibly in anticipation of mid-year financial results or a new catalyst from the Omani economy.