RIYADH: Gulf equities staged their sharpest rally in almost two years in September, lifted by synchronized central bank rate cuts and Saudi Arabia’s signal of deeper market access.
According to Kamco Invest’s monthly report, the MSCI GCC index advanced 4.9 percent, its biggest monthly gain in 21 months, closing near a three-year high.
Saudi Arabia led with a 7.5 percent jump for the Tadawul All Share Index, while Kuwait, Oman and Bahrain also finished higher; Dubai posted the largest decline among regional peers, down 3.7 percent, with Qatar and Abu Dhabi also ending lower.
This comes as the US Federal Reserve cut rates by 25 basis points, a move mirrored across GCC central banks. Sentiment further strengthened when Saudi authorities signaled plans to scrap the 49 percent cap on foreign ownership of listed companies, spurring renewed foreign buying — especially in banks.
In its monthly bulletin, Kamco stated: “After reporting losses during the previous two consecutive months, Saudi Arabia’s TASI recorded the biggest monthly gain in the GCC during September-2025 after the index surged 7.5 percent during the month.”
