Business
Saudi stocks lead Gulf gains after regulator says market to open to all foreign investors
Saudi stocks lead Gulf gains after regulator says market to open to all foreign investors
About this update from Al Rajhi Bank
By Md Manzer Hussain The Saudi stock market led Gulf equities higher in early trade on Wednesday after the kingdom said it will open its capital market to all categories of foreign investors from next month.Saudi Arabia's benchmark stock index TADAWUL:TASI rose as much as 2.5%, its biggest intraday gain in more than three months, with all constituents advancing.Finance, consumer discretionary and healthcare stocks led gains. Heavyweight Al Rajhi Bank TADAWUL:1120 climbed 2.1% and oil major Saudi Aramco TADAWUL:2222 added 1.1%. Exchange operator Saudi Tadawul Group TADAWUL:1111 jumped as much as 7%, its sharpest rise since late September.The rally followed a statement from the Capital Market Authority on Tuesday saying all foreign investors will be able to invest directly in the main market from Feb. 1, 2026, after the regulator scrapped the "Qualified Foreign Investor" regime and removed rules that previously limited access.The CMA said the measures aim to broaden the investor base, support inflows and improve liquidity, adding that foreign investors' holdings exceeded 590 billion riyals ($157.3 billion) by end-Q3 2025, up from 498 billion riyals at end-2024.Dubai's benchmark stock index DFM:DFMGI was up 0.1%, supported by a 2.9% advance in Air Arabia DFM:AIRARABIA and a 0.5% rise in tolls operator Salik DFM:SALIK.The Abu Dhabi benchmark index ADX:FADGI was little changed as declines in technology, utilities and consumer staples offset gains elsewhere. Alpha Data ADX:ALPHADATA fell 1.2% and Presight AI ADX:PRESIGHT dropped 0.9%, while Alpha Dhabi Holding ADX:ALPHADHABI rose 0.6% and Dana Gas ADX:DANA gained 3.4%.Meanwhile, the UAE's non-oil private sector maintained robust growth in December, although the pace of expansion moderated slightly from the previous month, a survey showed on Tuesday.The Qatari benchmark index QSE:GNRI edged up 0.1%, with Qatar Islamic Bank QSE:QIBK rising 0.6% and Qatar Aluminum Manufacturing QSE:QAMC gaining 1.3%. Qatar Gas Transport QSE:QGTS fell 1%.