Local Stock Markets Add 100 Billion Dirhams in Market Capital in 5 Months of 2023

Local stock markets added more than 100 billion dirhams to their market capital during the first five months of this year 2023, supported by increased demand from international investors, in addition to new listings.

The market value of the markets was boosted by four new listings during the first five months, including “ADNOC Gas” and “Presite” for artificial intelligence solutions on the Abu Dhabi Stock Exchange, and the listing of “MBME” as the first financial technology company to be listed on the “Nomu” platform in the market. Abu Dhabi, in addition to listing the shares of “Al-Ansari” for financial services in the Dubai Financial Market, and “Abu Dhabi Securities” witnessed a new listing of “ADNOC Supply and Services” at the beginning of this June.

capital and liquidity

The market capital of listed shares rose from 3.206 trillion dirhams at the end of last year to 3.307 trillion dirhams at the end of last May 2023, distributed by 2.685 trillion dirhams for shares listed on the Abu Dhabi Stock Exchange, and 621.5 billion dirhams for shares listed on the Dubai Financial Market.

Local stocks attracted liquidity that exceeded 188 billion dirhams during the first five months of this year, distributed by 152.6 billion dirhams in the Abu Dhabi Stock Exchange, and 35.4 billion dirhams in the Dubai Financial Market, in what was traded about 41.5 billion shares, of which 23.6 billion. shares in the Abu Dhabi Stock Exchange, and 17.8 billion shares in the Dubai Financial Market, through the implementation of more than 2.04 million transactions in the two markets.

Dubai Financial Market

The Dubai Financial Market general index rose by 7.21% – or the equivalent of 240.5 points during the first five months, to jump from the level of 3336.07 points at the end of last year, to reach 3576.63 points at the end of May 2023, with the industry sector index rising 11.5%, and the real estate sector by 10%. And services 8.3%, and financial 6.1%.

Emirates NBD rose 5%, Emaar Properties 4.83%, DEWA 8%, Emaar Development 19.5%, Tecom 8.5%, Air Arabia 5.5%, and Salik. » 24%, «Dubai Investments» 1.5%, and «Empower» 29%, while the shares of «Gulf Navigation» achieved strong gains that exceeded 370%.

In turn, the share of “Emaar Properties” acquired the largest share of trading during the first five months of this year, attracting liquidity of about 9.5 billion dirhams, “Emirates NBD” 3.2 billion dirhams, “Dubai Islamic” 2.8 billion dirhams, and “Bank of Ajman »2.5 billion dirhams.

Abu Dhabi Securities

In turn, the Abu Dhabi market index «Fadex 15» closed at the end of the first five months of this year at the level of 9232.89 points, while the FTSE Abu Dhabi General Market index «Fadji» closed at the level of 9406.57 points. The consumer goods index rose by 21.5%, real estate by 14%, communications by 0.93%, and energy by 0.85%.

On the Abu Dhabi Stock Exchange, shares of companies rose: “Americana” by nearly 39.4%, “Agthia” by 22.6%, “ADNOC Drilling” by 21.8%, “Al-Dar” by 15.1%, “Abu Dhabi Ports” by 14.3%, and “Abu Dhabi Ports” by 14.3%. ADNOC Gas 10%, Abu Dhabi Islamic Bank 9.77%, Yahsat 2.4%, and Borouge 2.4%.

In turn, the share of “Al-Alamiya Holding” acquired the largest share of trading, attracting liquidity of more than 48 billion dirhams, followed by “Alpha Abu Dhabi” with about 12.8 billion dirhams, then “Multiple” with 9.5 billion dirhams, and “First Abu Dhabi” with 7.16 billion dirhams, and “Al-Dar” 6.2 billion dirhams.