Local stocks add 1.2 trillion dirhams to their market capital within 11 months
Local stock markets added nearly 1.2 trillion dirhams to their market capital during the first 11 months of this year, supported by strong gains for listed shares, increased demand from international investors, and new listings.
The market value of shares rose from 2.038 trillion dirhams at the end of last year to 3.247 trillion dirhams at the end of last November's trading, distributed by 2.665 trillion dirhams for the Abu Dhabi Stock Exchange, and 582.4 billion dirhams for the Dubai Financial Market.
The market value of the local markets was boosted thanks to the gains of the leading stocks, in addition to the new listings that included “Abu Dhabi Ports”, “Dewa”, “Borouge”, “GFH”, “Invictus Investments”, “Tecom”, “Union Coop” and “Tecom”. Salik, Burjeel, Bayanat, Empower and Education
The Abu Dhabi General Market Index “Fadji” rose during the first 11 months of this year by 24.3%, or the equivalent of 2064 points, to close at 10552.37 points at the end of November, compared to 8488.36 points at the end of last year, while the Dubai Financial Market index rose by about 4.01%. Or the equivalent of 128.1 points, to close at 3232.96 points at the end of last November, compared to its previous closing at 3195.91 points at the end of last year, mainly supported by real estate stock gains of 14.34%.
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