Trading value in GCC stock markets reaches $618bln, with market capitalisation at $3.9trln

GCC stock trading value hits $618 billion in 2025 as market capitalisation falls to $3.9 trillion

GCC stock markets recorded trading in approximately 401.7 billion shares during 2025, with the value of shares traded reaching about US$618 billion, the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC‑Stat) reported. Total market capitalisation across GCC exchanges stood at roughly US$3.9 trillion in 2025, a drop of 6.2% from the previous year, while the general composite index ended the year at approximately 165.2 points, down 3.8% versus end‑2024.

"A total of 779 companies were listed on GCC stock markets," GCC‑Stat noted, with 756 companies—representing 97% of all listed firms—eligible for trading by citizens of Gulf Cooperation Council countries. The proportion of eligible shares reached 100% on Bahrain Bourse (BHB), Muscat Stock Exchange (MSX), Qatar Stock Exchange (QSE) and Boursa Kuwait.

Context and market detail

The 19.5% year‑on‑year rise in shares traded (in volume terms) to 401.7 billion shares contrasts with a lower value outcome, indicating active trading but pressure on prices and valuations across the region. The composite index decline of 3.8% and the 6.2% fall in market capitalisation point to net market re‑pricing during 2025 despite higher turnover.

Regulatory and infrastructure developments featured strongly in GCC markets throughout the year. GCC‑Stat highlighted a broad programme of regulatory and legislative changes covering capital markets and investment fund rules, offering and listing requirements, corporate governance enhancements, and the regulation of trading conduct. Market‑making mechanisms were developed further, and digital platforms and financial technologies saw expanded use.

• Investment fund passporting regulations were introduced as the first unified regulatory framework for a financial product across GCC countries, aiming to facilitate cross‑border fund distribution.
• Authorities continued work on initiatives to support the listing and trading of bonds and sukuk, promote dual listings and electronic connectivity between stock exchanges, and unify investor identification numbers for GCC citizens.
• Supervisory regimes were strengthened with more risk‑based oversight, updated capital adequacy frameworks, and expanded sustainability disclosure requirements, including regulations governing electronic issuance of securities.

Outlook

The mix of higher trading volumes and lower aggregate market capitalisation leaves GCC exchanges navigating a transitional phase: investors remain active, but valuations have adjusted downward. Continued implementation of the investment fund passporting rules and efforts to boost bond and sukuk markets could broaden market depth and diversify instruments available to investors.

Near‑term market dynamics will likely hinge on how quickly new regulatory frameworks and electronic connectivity projects are operationalised, along with external macroeconomic factors that influence equity valuations. Meanwhile, corporate activity and investments across the region—illustrated by deals such as Kingdom Holding’s US$224 million acquisition of a 70% stake in Al Hilal Club and corporate venturing moves like Aramco Ventures’ investment in US startup Twin1 AI—signal ongoing capital deployment that could underpin future market development.