The new listings have further deepened the market

Local shares add 537 billion dirhams to its market capital in 7 months

"TECOM" group of new listings on the Dubai Financial Market.

Cinematography: Mostafa Qassemi

The local stock markets added more than 537 billion dirhams to its market capital within seven months, supported by strong gains for listed shares, increased demand from international investors, in addition to new listings.

The market value of shares increased from 2.038 trillion dirhams at the end of last year, to 2.575 trillion dirhams at the end of July 2022 transactions, distributed by 2.015 trillion dirhams for the Abu Dhabi Stock Exchange, and 559 billion dirhams for the Dubai Financial Market.

The market value of the local markets was enhanced, thanks to the gains of the leading shares, and new listings, including: Abu Dhabi Ports, Dewa, Borouge, GFH, Invictus Investments, TECOM, and Union Coop. It contributed to increasing the depth of the markets, enhancing its investment attractiveness, as well as attracting a new segment of investors.

The FTSE Abu Dhabi General Market index rose, during the first seven months of this year, by 13.7%, to close at 9,648.96 points at the end of July, compared to about 8,488.36 points at the end of 2021, and the market succeeded during that period in achieving a historical level that is the highest ever, with It reached 10,171 points last April.

While the Dubai Financial Market rose by 4.4%, or 142.1 points, to close at 3,223.29 points at the end of July 2022, compared to its previous closing of 3,195.91 points at the end of last year.

The local markets attracted more than 287.7 billion dirhams of liquidity during the first seven months of this year.

58.5 billion shares were traded, including 37.2 billion shares in the Abu Dhabi Securities Exchange, and 21.3 billion shares in the Dubai Financial Market, executed through 2.2 million transactions.

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