The market capitalization of Arab stock exchanges reached approximately $4.54 trillion in February, reported the Arab Monetary Fund (AMF) in its latest market performance report. This uptick, from around $4.4 trillion in January, reflects the resilience and growth potential of regional markets amidst evolving economic landscapes. Key players such as the Saudi Exchange, known as Tadawul, and the Abu Dhabi Securities Exchange (ADX) have notably contributed to this surge in market valuation.
Market highlights
According to the AMF’s February data, Saudi Arabia’s Tadawul recorded the largest share of the market capitalization, which reached approximately $2.983 trillion. This marks a 4.85 percent increase compared to January’s $2.845 trillion. Meanwhile, ADX’s market capitalization hit $775.1 billion in February. ADX saw a modest 1.95 percent decline from January’s $790.5 billion. In Dubai, the Dubai Financial Market’s valuation reached $198.8 billion, a 2.65 percent increase from January’s $193.7 billion.
The AMF’s report also highlights the market capitalization figures for other prominent Arab stock exchanges. The Qatar Stock Exchange recorded a 2.75 percent increase in valuation to $165.8 billion. In addition, the Kuwait Stock Exchange saw a 2.05 percent increase to around $143.2 billion. Meanwhile, the Casablanca Stock Exchange in Morocco demonstrated a market capitalization of $66.7 billion, a 4.58 percent increase compared to January.
Other Arab markets
AMF’s report revealed a 1.57 percent increase in the Egyptian Exchange’s market capitalization, reaching $64.7 billion in February. Meanwhile, the Muscat Securities Market reported a market capitalization of $61.7 billion, a 0.04 percent decline compared to January. Additionally, the Amman Stock Exchange in Jordan exhibited market capitalizations of $24.1 billion, a 0.64 percent decline. Meanwhile, the Bahrain Stock Exchange recorded $20.9 billion, down 2.99 percent compared to January.
In Lebanon, the Beirut Stock Exchange recorded $17.99 billion while the Tunis Stock Exchange recorded $7.7 billion. The Damascus Securities Exchange reached $5.68 billion, and the Palestine Exchange recorded $4.38 billion.
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Growth drivers
The market capitalization of Arab stock exchanges saw varied activity in February. Eight stock exchanges saw an increase driven by the improvement of the long-term commodities, healthcare, banking and energy sectors. Moreover, the improvement in foreign investment activity at the individual and institutional levels has contributed to an increase in performance indicators in some Arab stock exchanges last month. In addition, the annual business results of listed companies, were mostly positive, especially those operating in the banking sector. This led to an increase in trading which resulted in an increase in liquidity indicators in several Arab stock exchanges. In the same context, the Arab stock exchanges continued their efforts towards expanding their market base with new listings which supported their growth and raised their market value.
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