S&P Launches Investable Indices For GCC

S&P GCC Composite index, which comprises 151 companies across five Gulf States, had an unadjusted market capitalisation of more than $110 billion as at March 27, 2007, representing nearly one-third of the total capitalisation of the five GCC member markets.

The market weightings in the GCC are as follows: UAE 20.2%; Kuwait 54.4%; Qatar 13.6%; Bahrain 6.4%; Oman 5.4%.

The five new country indices - S&P/IFCI Bahrain, S&P/IFCI Kuwait, S&P/IFCI Oman, S&P/IFCI Qatar, S&P/IFCI United Arab Emirates - in addition to a GCC Composite Index - include only stocks to which foreign, non-GCC residents have unrestricted rights to trade and hold.

I personally think that Indians inspite of being 50% of the population in the GCC region havent been able to participate in the Stock markets for reasons both legal and business wise. I think things will change for the good and I think the GCC stocks which are at thier lowest levels may see some good times soon afterall thier economies are speaking for itself, now its time for the indices to speak .

More info
http://en.wikipedia.org/wiki/Cooperation_Council_for_the_Arab_States_of_the_Gulf