Oman’s stock market ends lower during short trading week

Oman’s stock market ends lower during short trading week

Muscat: Oman's stock market recorded limited price movements during the three days of active trading this week and remained without a strong direction overall, according to an analyst.

“However, the main index concluded the week with a 0.59 percent decline, marking a third consecutive week of losses,” Daniel Takieddine, BDSwiss CEO Mena.

“Trade volume and value were significantly lower than during the previous few weeks. On a larger timescale, the market continued to see downside risks and displayed a downtrend since the beginning of the year,” he further added.

Other stock markets in the region recorded mixed performances with some seeing increases. On a global level, stock markets were rallying with US markets in particular extending their gains thanks to positive sentiment. Stronger expectations of interest rate cuts in the coming months could continue to support performances. “The risk-on sentiment could also have a positive impact on the Omani stock market as traders could look for new investment opportunities after the holiday period.” Daniel Takieddine said.

However, geopolitical tensions in the region could remain a source of risks for local markets and could affect sentiment among local and international investors,” he added. At the same time, the volatility in oil prices could weigh on