Saudi Arabia’s stock market kicked off the year in commanding fashion, outpacing its Gulf peers as strong corporate results and renewed foreign investor access lit a fire under equities.
According to a recent market review by Kuwait Financial Centre (Markaz), the Saudi equity index climbed 8.5% in January, driven by standout earnings from heavyweight companies and growing confidence in the Kingdom’s investment landscape. A key catalyst was the move to open the market fully to foreign investors, a step that helped deepen liquidity and sharpen global interest.
Banking stocks carried much of the momentum. Saudi National Bank jumped 18.4% after delivering an 18% year-on-year increase in net profit for 2025. Al Rajhi Bank followed suit, rising 9.9% on the back of a robust 25.7% annual profit growth. In the materials space, mining giant Maaden surged 26.8% after announcing the discovery of 7.8 million ounces of gold across four major sites.
Elsewhere in the region, Oman’s Muscat Stock Exchange advanced 7.9% in January, extending the rally that defined much of 2025. Dubai’s market posted a solid 6.4% gain, helped by a 6.8% monthly rise in Emaar Properties, while Abu Dhabi’s index added 2.9%, supported by steady performances from blue-chip names. First Abu Dhabi Bank climbed 6.7% after reporting a 24% increase in annual net profit.
Kuwait was the outlier, with equities slipping 3.8% over the month as investors booked profits following last year’s strong run.
On the global stage, markets stayed largely upbeat. Continued inflows and sustained demand for safe-haven assets such as gold helped keep sentiment positive. The MSCI World Index rose 2.2%, the S&P 500 added 1.4%, and the Nasdaq Composite gained 1.2%. Emerging markets stood out, with the MSCI EM Index jumping 8.8%, buoyed by a rebound in Chinese equities.
January, it seems, belonged firmly to Riyadh—setting an assertive tone for the year ahead.
