The UAE stock markets experienced a notable increase in value this week, edging closer to the $1 trillion market capitalization milestone. This growth was primarily driven by significant gains in the real estate, financial, and industrial sectors, which continue to play pivotal roles in the nation’s economic performance.
Throughout the week, the combined market capitalization of UAE-listed stocks surged by approximately AED61bn ($16.6bn). The Abu Dhabi Securities Exchange (ADX) contributed AED52.8bn ($14.4bn) to this rise, while the Dubai Financial Market (DFM) added AED8bn ($2.2bn). By the end of trading on Friday, September 6, the market capitalization of all listed shares rose from AED3.531tn ($961bn) last Friday to AED3.591tn ($978bn). The ADX-listed shares alone amounted to AED2.858tn ($778bn), while DFM-listed shares accounted for AED733.3bn ($200bn).
Steady Growth in UAE Markets
The FTSE ADX General Index (FADGI) saw an increase of 1.75%, gaining 163.12 points to close at 9448.05 points. Similarly, the FTSE ADX 15 Index (FADX15) posted a 1.52% rise, adding about 140.4 points to close at 9362.89 points. ADX’s performance was bolstered by various sectors, with the real estate sector rising by 3.1%, the industrial sector growing by 2.96%, and the financial sector seeing a 1.87% increase. Other sectors that performed well included energy (up 1.48%), telecoms (up 1.08%), and utilities, which saw the most substantial gain at 5.53%.
Meanwhile, the Dubai Financial Market (DFM) also showed steady growth. Its General Index climbed by 1.1%, or 47.4 points, closing at 4,372.87 points. This growth was largely attributed to the real estate sector, which rose by 3.2%, the financial sector, which increased by 1.38%, the telecoms sector with a 1.11% rise, and the industrial sector, which saw a modest increase of 0.48%.