The market capitalization of Arab stock exchanges rose to $4.268 trillion by the end of August 2024, marking a 0.52% growth—equivalent to $22 billion—compared to $4.246 trillion at the end of July, according to the Arab Monetary Fund’s (AMF) latest report.
The increase reflects steady performance across major Gulf Cooperation Council (GCC) markets, with Abu Dhabi, Dubai, and Saudi Arabia leading the region’s bourses.
Key Market Performances
- Saudi Exchange (Tadawul): The largest stock market in the region, Tadawul’s market value reached an impressive $2.727 trillion, continuing to serve as the anchor of the Arab market’s overall capitalization.
- Abu Dhabi Securities Exchange (ADX): The ADX achieved a market cap of $763.9 billion, cementing its position as a key financial hub in the region.
- Dubai Financial Market (DFM): DFM’s market value stood at $197.4 billion, contributing significantly to the UAE’s overall financial market performance.
Other Notable Markets
- Qatar Stock Exchange: With a market cap of $162.5 billion, the Qatari market remained a solid performer in the GCC region.
- Boursa Kuwait: Kuwait’s stock market stood at $138.8 billion, reflecting consistent growth driven by the country’s diversified investment strategies.
- Casablanca Stock Exchange: Morocco’s Casablanca Stock Exchange recorded a market cap of $73.8 billion, the largest in North Africa.
- Muscat Stock Exchange: Oman’s market value reached $63.8 billion, demonstrating stability in the Omani financial landscape.
Smaller Markets’ Contributions
Beyond the larger exchanges, several smaller markets also made notable contributions to the Arab stock market’s overall performance. Egypt’s stock exchange grew to $43.36 billion, while other regional markets such as the Amman Stock Exchange ($23.7 billion), Bahrain Bourse ($20.19 billion), and Beirut Stock Exchange ($19.2 billion) maintained steady performance. The smaller bourses in Tunisia ($8.52 billion), Syria ($5.95 billion), and Palestine ($4.07 billion) also played their part in the collective market cap.
Outlook for the Arab Markets
The growth in market capitalization across Arab stock exchanges underscores the resilience of regional markets, despite a challenging global economic environment. With strong performances from key GCC players like Saudi Arabia, the UAE, and Qatar, the outlook for continued growth remains promising, especially as these markets continue to attract foreign investment and enhance their regulatory frameworks.
The expansion in market capitalization also signals that Arab bourses are well-positioned to leverage future economic recovery, especially as regional and global investors explore new opportunities in the Middle East and North Africa’s evolving financial landscape.
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