2024-01-01 04:17:03
The UAE stock markets closed the curtain on the last year 2023, adding more than 444.5 billion dirhams (about 121 billion dollars) to its market capitalization, supported by the strength of the local economy and strong gains for the leading stocks listed on the Abu Dhabi and Dubai markets, and increased demand from international institutions and investors, in addition to the listings. New.
The market capitalization rose from 3.206 trillion dirhams ($870 billion) at the end of the year 2022 to 3.651 trillion dirhams ($990 billion) at the end of the current year 2023, distributed at a rate of 2.963 trillion dirhams for the Abu Dhabi Securities Market and 687.5 billion dirhams for the Dubai Financial Market.
The market value of the local markets was enhanced thanks to the new listings that included “ADNOC Gas,” “Brissite,” “Al Ansari Financial Services,” “ADNOC Logistics,” “Dubai Taxi,” “Investcorp Capital Capital Services,” “Phoenix Group,” and “ PureHealth”, all of which contributed to increasing the depth of the markets, enhancing its investment attractiveness, in addition to attracting a new segment of investors.
UAE stocks attracted approximately 420.9 billion dirhams in liquidity during 2023, distributed at 319.8 billion dirhams in the Abu Dhabi market and 101.06 billion dirhams in the Dubai market. About 110.6 billion shares were traded, including 58.2 billion shares in Abu Dhabi and 52.4 billion shares in Dubai, through the implementation of… More than 5.4 million transactions.
Abu Dhabi Market
The Abu Dhabi General Market Index, “Fadji,” closed at the end of this year’s trading at the level of 9,577.85 points, while the “Fadex 15” index reached the level of 9,333.88 points, and the real estate sector index rose by 23.5 percent, consumer goods by about 19.4 percent, health care by 5.16 percent, and services by 2.7 percent.
“Gulf Investment” shares achieved the largest increase in the Abu Dhabi market during 2023, with an increase of 175.63 percent, and “Ras Al Khaimah Real Estate” also increased by more than 72 percent, “United Arab Bank” by 58.8 percent, “Emirates Driving School” by 50.4 percent, and “Aram Group” “39 percent.
Shares of “Burjeel Holding” also rose 37 percent, “Bank of Sharjah” 36.4 percent, “Al Waha Capital” 30.9 percent, “ADNOC Drilling” 26.8 percent, “Sharjah Islamic” 24.6 percent, “ADNOC Logistics” 22.4 percent, and “Aldar Properties” 20.77. percent, “Abu Dhabi Ports” 11.15 percent, “Abu Dhabi Islamic” 11.1 percent, “ADNOC Gas” 9.96 percent, “Yahsat” 4.4 percent, and “Abu Dhabi Commercial” 2 percent.
“International Holding” topped the list of the most active during 2023, attracting liquidity of about 85.1 billion dirhams, followed by “Alpha Dhabi” with liquidity of 32.4 billion dirhams, the “Multiplay” group with 22.9 billion dirhams, “First Abu Dhabi” with 13.5 billion dirhams, and “Aldar Properties” with 12.1 billion dirhams. One billion dirhams, “ADNOC Gas” 10.38 billion dirhams, and “A&” 10.36 billion dirhams, according to the Emirates News Agency.
Dubai market
The Dubai Financial Market index rose during the year by 21.7 percent, or the equivalent of 723.7 points, jumping from the level of 3,336.07 points at the end of 2022, closing at 4,059.8 points by the end of this year, with the real estate index rising by 38.4 percent, industry by 26.7 percent, finance by 19.9 percent, and services by 10.2 percent.
“Gulf Navigation Holding” recorded the largest rate of rise in the Dubai market during the current year, at a rate of 963.8 percent, followed by “Al-Firdous Holding” 224.8 percent, “Ajman Bank” 76.2 percent, “Emaar Development” 62.1 percent, “Mashreq Bank” 55.8 percent, and “Taleem Bank.” Holding Company, 49.6 percent.
Among the winning stocks in the Dubai market were “Emaar Properties” by 35.1 percent, “Emirates NBD” by 33.1 percent, “Air Arabia” by 31.2 percent, “SALIC” by 25.4 percent, “TECOM” by 22.2 percent, and “Dubai Taxi” by 15.1 percent. “Dubai Investments” 7.37 percent, “Dewa” 6.03 percent, and “Dubai Islamic” 0.35 percent.
“Emaar Properties” accounted for the largest share of trading in the Dubai market during the current year, attracting liquidity of about 22.7 billion dirhams, followed by “Emirates NBD” with about 11.5 billion dirhams, then “Dubai Islamic” with 7.13 billion dirhams, and “Gulf Navigation” with 6.8 billion dirhams. “Ajman Bank” 6.7 billion dirhams, and “Dewa” 6.1 billion dirhams.
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