Gulf Stocks: Tadawul TASI, DFM, ADX and QSE Daily — 2026-09-11
Gulf equities closed mixed to higher on Friday, September 11, as Dubai and Abu Dhabi markets rallied on rising oil prices linked to renewed US-Iran tensions and reports of attacks on Saudi energy infrastructure. While the Saudi Tadawul All Share Index (TASI) ended the week on a lower note, regional benchmarks like the ADX General Index crossed the psychological 10,000-point level, driven by strong liquidity in the UAE markets.
Gulf Stocks: Tadawul TASI, DFM, ADX and QSE Daily — 2026-09-11
Top developments
UAE Markets Surge as Oil Hits Six-Week High
Dubai’s DFM Index advanced 0.6% and Abu Dhabi’s ADX General Index rose 0.45% to close at 10,021.04, crossing the key 10,000-point milestone for the first time in recent sessions. This rally was fueled by a spike in crude oil prices to a six-week high following reports that Iranian and US forces traded blows, with claims that Saudi Aramco facilities were targeted. The ADX session recorded Dh1.08 billion in value traded, with total market capitalization reaching Dh2.619 trillion.
TASI Reverses Early Losses Amid Geopolitical Caution
The Saudi Tadawul All Share Index (TASI) displayed resilience, reversing early losses to finish the week’s trading slightly higher or flat depending on the specific daily close, with a notable 0.1% gain recorded in mid-week sessions. Despite the broader weekly decline, traders shrugged off Houthi escalations and concerns over the Strait of Hormuz, reassured by the continued openness of Saudi trade routes and Red Sea shipping lanes. The index faced pressure from global risk-off sentiment but found support in energy stocks.
Construction Activity Provides Macro Backdrop
Saudi Arabia’s construction activity edged up in August, reaching its second-highest reading of 2026, which provided some fundamental support to local equities. However, this positive data was overshadowed by plans regarding new restricted zones in the Strait of Hormuz, which kept investor sentiment cautious throughout the week. The divergence between strong domestic activity and external geopolitical risks defined the week’s trading pattern in Riyadh.
Local view
Local Arabic media outlets such as Al-Bayan and Halal Khalij highlighted the significant liquidity flows into UAE markets, noting that local equity liquidity exceeded Dh1.7 billion on Friday alone. Al-Araby Al-Jadeed reported that most Gulf bourses retreated earlier in the week due to the US-Iran standoff but saw a recovery in Abu Dhabi and Kuwait as investors sought safe-haven assets in energy-linked sectors. Local stakeholders are closely watching the "selective buying" in Dubai, where large block trades continue to support the DFM's upward trajectory despite regional volatility.
Context & numbers
- ADX General Index: Closed at 10,021.04 (+0.45%), crossing the 10,000 threshold.
- UAE Liquidity: Total liquidity in local UAE equity markets reached approximately Dh1.7 billion on Friday, September 11.
- DFM Performance: Dubai’s main market advanced 0.6% on Friday, recovering from two prior sessions of losses.
- Oil Prices: Brent crude rose to a six-week high amid fears of supply disruptions from the Gulf region.
On the radar
- IPO Pipeline: Reports from Semafor indicate that three Saudi companies have pulled their IPO plans as investors weigh the impact of the ongoing Iran war, signaling potential headwinds for the Kingdom's capital market expansion goals.
- Strait of Hormuz: Traders remain hyper-vigilant regarding any further restrictions or security incidents in the Strait of Hormuz, which directly impacts insurance costs for shipping and energy exports from the region.
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