Dubai emerged as the best-performing equity market in the GCC last month, with a gain of 7.9 percent. The GCC index continued to show gains during July 2025, led by earnings optimism for Q2 2025. The MSCI GCC index was up for the second consecutive month, registering a gain of 2.2 percent, led by a broad-based gain across the GCC exchanges.
Following Dubai came Oman and Qatar with gains of 6.2 percent and 4.8 percent, respectively.
So far this year, the GCC index has been up by 3.7 percent, also highlighting the positive performance for most GCC markets, barring Saudi Arabia and Bahrain, which registered a decline of 9.3 percent and 1.5 percent, respectively.
Oil prices impact Saudi market sentiment
According to Kamco Invest‘s latest GCC Markets Monthly Report, Saudi Arabia was the only market that declined during the month. The decline mainly reflected excessive investor concerns related to the prospect of the project market in the Kingdom, with oil prices trading around the $70 per barrel mark, although the quarterly earnings season has so far shown healthy double-digit growth in profits.
The Saudi Benchmark TASI continued to decline last month after showing a marginal recovery in June 2025. The index was down 2.2 percent during the month and was the only declining benchmark in the GCC.
Year-to-date, Saudi Arabia has witnessed the biggest decline in the GCC at 9.3 percent and was one of the only two GCC markets, along with Bahrain, that are showing a decline this year.
Dubai’s DFM General Index posts fourth consecutive monthly gain
Dubai’s DFM General Index registered its fourth consecutive monthly gain in July 2025, rising by 7.9 percent, the biggest monthly gain in the GCC market, closing the month at 6,159.2 points. This strong performance boosted the index’s year-to-date return to 19.4 percent, also the highest in the GCC this year.
Sectoral performance was broadly positive, with five out of eight sector indices posting gains during the month, while the remaining three indices recorded declines.
Trading activity on the exchange also strengthened in July. The total volume of shares traded surged by 7.4 percent, reaching 7.5 billion shares compared to 7 billion shares in June. Likewise, the total value of shares traded rose by 10.7 percent, amounting to AED16.7 billion in July versus AED15.1 billion in June.
Union Properties topped the monthly trading volume chart with 1.2 billion shares traded, followed by Drake & Skull International and Deyaar Development with volumes of 836.3 million and 669.7 million shares, respectively. In terms of traded value, Emaar Properties led with AED 3.6 billion worth of shares exchanged during the month, followed by Dubai Islamic Bank and Emirates NBD at AED1.5 billion and AED1.2 billion, respectively.
Abu Dhabi market gains 10.1 percent this year
In Abu Dhabi, the FTSE ADX Index also recorded its fourth consecutive monthly advance in July 2025, registering a 4.1 percent increase following a moderate 2.8 percent gain in the previous month. The index concluded July 2025 at 10,370.66 points, resulting in a year-to-date gain of 10.1 percent.
In terms of monthly stock performance, Bank of Sharjah led the gainers’ chart for July 2025, recording a substantial 75.5 percent increase in its share price.
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GCC corporate results in focus this week
After recording notable gains in July, GCC equity markets are bracing for a major week with key releases of corporate results. According to Iridium, regional markets may experience negative sentiment, mirroring the broad-based declines in global equities. Nonetheless, last week’s recovery in oil prices and the likelihood of further gains as the U.S. considers additional sanctions on Russia could provide some support.
Corporate results will be the central focus, with ADNOC Gas, Agthia, Alba, Almoosa Health, Al Ramz, BisB, Burjeel, DEWA, DIB, Empower, IHC, NIND, Parkin, QAMCO, QEWS and Space42, among others, scheduled to report their second quarter 2025 results.
Meanwhile, earnings calls are planned for Alamar Foods, Aramco, Bank Aljazira, Care Medical, Derayah Financial, DIB, Lumi Rental, MCDC, QEWC, Riyad Bank, SABIC, Saudi Investment Bank, SNB and Spinneys.
In addition, MSCI’s Index review announcement on August 7 may influence regional market dynamics.
