Gulf Stocks: Tadawul TASI, DFM, ADX and QSE Daily — 2026-10-29
Gulf markets experienced significant volatility this week, with Saudi Arabia’s Tadawul All Share Index (TASI) staging a powerful rebound from five-year lows driven by diplomatic de-escalation hopes and strong IPO activity. Dubai’s DFM recorded its highest daily gain in 26 weeks, while the UAE’s first major listing of 2026, DIP Holding, saw its IPO books filled within minutes.
Gulf Stocks: Tadawul TASI, DFM, ADX and QSE Daily — 2026-10-29
Top developments
Saudi TASI Rebounds as Tensions Ease
The Tadawul All Share Index (TASI) rose 2.3% to close at 9,986.45 points, following a previous day’s 3.43% surge that marked the largest daily gain in over a year. This rally was fueled by reports of planned talks between Saudi officials and Tehran regarding Houthi attacks, which significantly cooled regional risk premiums. Banking and energy sectors led the recovery, with trading activity exceeding SR7.16 billion on the final day of the week.
Dubai DFM Posts Highest Daily Gain in 26 Weeks
The Dubai Financial Market (DFM) index surged, marking its highest daily percentage gain in 26 weeks, adding 15.7 billion dirhams in market capitalization. This momentum was supported by broader regional recovery as diplomatic efforts by Saudi, Turkish, and Pakistani officials in Tehran signaled potential de-escalation. The DFM’s strong performance contrasts with earlier October declines, highlighting the market's sensitivity to geopolitical news flows.
DIP Holding IPO Success Revives UAE Listing Market
Dubai Investments PJSC (DIP) successfully covered its up to $543 million IPO for DIP Holding within minutes of opening books, signaling renewed investor appetite for UAE equities. This was the first major listing in the UAE since the onset of regional tensions, breaking a period of stalled IPO activity where investors had previously turned to private M&A deals. The successful subscription suggests that high-quality assets can still attract capital despite the broader market uncertainty.
Local view
Regional Media Focus on De-escalation
Arabic-language financial outlets, including Al-Araby Al-Jadeed and Asharq Al-Awsat, attributed the market rally to "hopes for de-escalation" between Washington and Tehran. Independent Arabia noted that the TASI’s 3.4% jump was the largest daily gain in over a year, driven heavily by banking stocks. Local analysts are closely monitoring the sustainability of this rally, with Al-Bayan noting a cautious "wait-and-see" approach in some sectors despite the headline gains.
Context & numbers
Market Metrics and Oil Prices
- TASI Performance: The index closed at 9,986.45 points after a 2.3% gain on Wednesday, recovering from a low of 9,696 points earlier in the week.
- UAE Liquidity: UAE equity markets saw liquidity exceed 2.2 billion dirhams on Wednesday, with the Abu Dhabi Securities Exchange (ADX) accounting for 1.36 billion dirhams of this volume.
- Oil Prices: Brent crude hovered near $115.59 in Asian trade on October 28, up from $113.72, as the market balanced supply risks from Houthi claims against demand concerns.
- Foreign Ownership: Total foreign holding value in Saudi stocks stood at $123.07 billion as of the end of August 2026, according to Saudi Exchange data.
On the radar
- OPEC+ Meeting: The group is expected to keep December production targets unchanged at its upcoming Sunday meeting, maintaining current supply discipline.
- Saudi Tadawul Group Earnings: The exchange operator reported a sharp fall in profits due to weaker trading activity earlier in the quarter, a metric that will be watched for signs of recovery in volume.
- Private Deals on Tadawul: Continued activity in private transaction mechanisms was noted, with 14 deals valued at SAR 159 million executed on October 27, indicating sustained institutional interest outside the public order book.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
Powered by
