Local stock markets in the Emirates have experienced significant growth in market capital during the first half of this year, adding nearly 220 billion dirhams. This increase can be attributed to the rising demand from international investors and the introduction of new listings.
Four new listings have contributed to the boost in market value. These include “ADNOC Gas,” “Briseit” for artificial intelligence solutions, “ADNOC Logistics and Services” in the Abu Dhabi market, and the listing of shares of “Al-Ansari” for financial services in the Dubai Financial Market.
The market capital of listed shares has risen from 3.206 trillion dirhams at the end of last year to 3.426 trillion dirhams in June. This increase is distributed by 2.774 trillion dirhams for shares listed on the Abu Dhabi Stock Exchange and 652.1 billion dirhams for shares listed on the Dubai Financial Market.
During the first half of the year, local stocks attracted liquidity exceeding 218 billion dirhams. The Abu Dhabi Stock Exchange accounted for 171.6 billion dirhams, while the Dubai Financial Market attracted 46.4 billion dirhams. Approximately 53 billion shares were traded, with 27.6 billion shares in the Abu Dhabi market and 25.4 billion shares in the Dubai market. These trades were facilitated through more than 2.5 million transactions in the two markets.
In the Abu Dhabi market, the “Vadex 15” index closed at 9380.24 points at the end of the first half, while the FTSE index closed the Abu Dhabi General Market “Fadji” at 9550.4 points. The consumer goods index rose by 24.2%, real estate by 15.8%, and services by 3.58%.
Several companies in the Abu Dhabi market experienced significant growth. “Americana” rose by 42.2%, “Agthia” by 24.6%, “ADNOC Drilling” by 19.5%, “Abu Dhabi Islamic” by 16.8%, “Al-Dar” by 14.9%, “Abu Dhabi Ports” by 12%, and “ADNOC Gas” by 9.6%. Other notable performers include Borouge, Yahsat, and Al-Alamiah Holding, which attracted liquidity of more than 52.1 billion dirhams.
In the Dubai market, the Dubai General Market Index rose by 13.67% during the first half, reaching 3791.99 points. The industry sector index rose by 19.9%, real estate by 16.9%, services by 13.3%, and financial by 11.4%.
The performance of the Dubai market was bolstered by the rise in shares of companies such as “Emirates NBD” by 14.2%, “Emaar Properties” by 9.2%, “Dewa” by 15%, “Emaar Development” by 34.2%, “Tecom” by 10%, “Air Arabia” by 13.5%, and “Salik” by 33.5%. “Gulf Navigation” achieved remarkable gains of over 494%.
“Emaar Properties” dominated trading in the Dubai market, attracting liquidity of about 10.8 billion dirhams. Other notable companies include “Emirates NBD” with 3.9 billion dirhams, “Dewa” with 3.6 billion dirhams, “Dubai Islamic” with 3.3 billion dirhams, and “Ajman Bank” with 3.26 billion dirhams.
The growth in market capital and trading activity in the Emirates’ stock markets reflects the increasing interest from international investors and the positive performance of listed companies. These developments bode well for the future of the Emirates’ economy and its position as a regional financial hub.
How has the introduction of new listings influenced the market capital of the local stock exchanges in the Emirates?
Ere made through nearly 7 million transactions.
The increased market capital can be attributed to the growing interest from international investors. The Emirates has become an attractive destination for foreign investors due to its stable economy and investor-friendly regulations. International investors have been keen on investing in the local stock markets, leading to a surge in demand for listed shares.
Furthermore, the introduction of new listings has also contributed to the rise in market value. The listing of “ADNOC Gas,” “Briseit,” “ADNOC Logistics and Services,” and “Al-Ansari” has brought in fresh investment opportunities, attracting more investors to the local stock markets.
The rise in market capital has been reflected in the performance of the individual stock exchanges. The Abu Dhabi Stock Exchange has seen a significant increase in market capital, with listed shares reaching 2.774 trillion dirhams. On the other hand, the Dubai Financial Market has also witnessed growth, with listed shares reaching 652.1 billion dirhams.
The increase in liquidity during the first half of the year is a testament to the growing trading activity in the local stock markets. The Abu Dhabi Stock Exchange has attracted liquidity exceeding 171.6 billion dirhams, while the Dubai Financial Market has recorded 46.4 billion dirhams in liquidity. Both exchanges have seen a substantial number of shares traded, with over 53 billion shares exchanging hands.
Overall, the local stock markets in the Emirates have experienced significant growth in market capital during the first half of this year. The rising demand from international investors and the introduction of new listings have contributed to this growth. With a stable economy and investor-friendly regulations, the Emirates continues to attract both local and international investors to its vibrant stock markets.
The strong performance of local stock markets is a promising sign, highlighting increased demand and new listings that are driving investor confidence. This trend bodes well for economic growth and showcases the resilience of these markets in uncertain times.