Divergent Liquidity and Momentum Trends in Three Gulf Markets at Week's Start

On Sunday, January 11, 2026, the Saudi, Kuwaiti, and Qatari stock markets displayed distinctly different trends, reflecting varying liquidity positioning and investor sentiment across the Gulf.

Saudi Market: The Saudi Exchange closed with strong, broad-based gains. The TASI index climbed to 10,609.76 points (+1.30%), with advances across the main, parallel, and derivatives markets. Blue-chip stocks like Al Rajhi, Aramco, and SABIC saw notable liquidity inflows, while consumer and transport sectors also performed well. REITs faced minor declines, indicating selective repositioning rather than widespread outflows. The positive breadth signals the start of a potential re-rating phase for 2026, underpinned by active sector rotation and robust liquidity.

Kuwait Bourse: Kuwait ended the session with broad declines across its indices, driven mainly by sectoral corrections in financials and healthcare, despite higher trading volumes and values. The main market index fell to 8,129.48 (-0.34%), and the premier market to 9,389.64 (-0.57%). Only consumer staples managed gains. The correction appears more a sector rotation than a liquidity exit, as trading activity remained elevated. Higher oil prices and improved macro conditions are expected to support stability and limit further downside.

Qatar Exchange: Qatar’s market rebounded, with the main index rising to 11,088.79 (+1.09%), recovering much of the previous session’s losses. The number of advancing stocks outpaced decliners (30 up vs. 20 down), and the market cap increased to QAR 664.35 billion. Trading activity remained healthy, though values dipped versus the previous session. Gains were broad, led by banking, transport, and services. The market responded positively to upcoming earnings disclosures and corporate events, including key conference calls and board announcements. The year-to-date gain improved to 3.03%, supporting a constructive outlook as liquidity remains selective yet robust.

Regional Perspective: The session highlighted three distinct patterns: Saudi Arabia leading with active blue-chip flows, Qatar confirming a renewed uptrend ahead of earnings, and Kuwait undergoing sectoral rebalancing without major liquidity loss. This divergence signals a healthy capital rotation, as investors tactically allocate funds across markets and sectors, supporting a balanced regional outlook at the start of 2026.