Saudi Arabia's TASI Surges Past 11,000, Leading Gulf Equities Rally
Saudi Arabia's Tadawul All Share Index (TASI) soared past the 11,000-point mark in September, hitting its highest level since May 2025. This significant milestone capped off a month of strong performance for Gulf equities, with the MSCI GCC index climbing 4.9 percent, its sharpest rally in almost two years.
The rally was led by Saudi Arabia, with the TASI jumping 7.5 percent. Other Gulf Cooperation Council (GCC) countries also finished higher, including Kuwait, Oman, and Bahrain. Kuwait's Stock Exchange stood out, achieving the highest annual profit among GCC countries in 2025, driven by strong market performance, economic diversification, and increased investor confidence.
The month saw a decisive reversal for Saudi stocks, with the TASI surging 5.1 percent on September 24, its biggest one-day gain since 2020. This turnaround followed two months of decline. Meanwhile, Dubai's DFM General Index slipped 3.7 percent, trimming its 2025 return to 13.2 percent, still one of the strongest in the GCC. Abu Dhabi's FTSE ADX Index edged down 0.8 percent but remained above the 10,000 mark for a third month, with a year-to-date gain of 6.3 percent.
The region's performance was boosted by synchronized central bank rate cuts and Saudi Arabia's signal of deeper market access. All listed banks in Saudi Arabia advanced following the announcement of lifting foreign ownership limits. Kuwait extended its lead as the region's top performer this year, with the All-Share Index rising 3.5 percent in September and 19.5 percent year-to-date.
September's rally demonstrates the resilience and potential of Gulf equities, with Saudi Arabia leading the charge. Despite Dubai's decline, the region's overall performance remains robust, driven by policy reforms and economic diversification. As the year draws to a close, investors will be watching closely to see if these trends continue.
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