The Muscat Stock Exchange has marked a significant milestone by recording its best weekly performance in nearly a decade, with the main index rising by approximately 12% to reach 7187.14 points. This surge is attributed to a renewed investors' optimism surrounding the potential for Oman to receive an upgrade to 'emerging market' status from Morgan Stanley. Analysts like Shahroukh Salim from Mashreq Capital have noted that this upward trend reflects increased expectations of improved trading volumes and recent listings that have positively impacted the exchange.

Efforts are being made by the Oman Stock Market to meet the criteria set by Morgan Stanley for this upgrade, with ambitions set for achieving inclusion by 2028 at the latest. The inclusion of companies into the emerging markets index, as noted by industry experts, often catalyzes a significant performance boost for the stock market by attracting demand from passive investment funds and broadening the investor base. It is anticipated that such an upgrade would not only enhance the exchange's visibility but also potentially increase foreign direct investments into the country.

Moreover, the performance of the Omani stock market stands out in the Gulf region, being the best performing market among its peers since the beginning of the year, largely powered by the shares of major companies. With the current trajectory, the outlook for the Muscat Stock Exchange seems promising, as increasing investor confidence could lead to sustained growth, bolstered by prospects of emerging market status.