In the first 8 months of this year, the performance of the Dubai Financial Market Index outperformed two indices of the US Wall Street stock market, where the Standard & Poor’s “S&P” index rose about 17%, while the “Dow Jones” index rose. 4.7%, while the “Dow Jones” index rose 4.7%, and the Nasdaq rose about 35%.

Al-Bayan Monitoring, the Dubai market index rose 22.4% or 746.8 points in 8 months, from 3336.07 points at the end of last year to 4082.87 points in the last session of last August.

The Dubai market was the best performing Gulf stock market in the first 8 months, supported by strong gains in equities, increased demand from international investors and strong results for corporates and banks.

The Kuwaiti bourse was up 5.2%, the Qatar bourse 4.5%, the Abu Dhabi bourse 3.9%, and the Dubai bourse went against the trend of the Gulf market indices, most of which saw a decline in performance in the first eight months. The Muscat stock market rose 1.2%, while the Saudi “TASI” index rose 9.7% and the Bahrain stock market rose 3%.

The Dubai market’s performance has strengthened since the start of the year to the end of August, with shares in Gulf Navigation up 648%, Ajman Bank up 126%, Emirates NBD Bank up 25.7% and Emaar Properties up 20%. , Teva 11.5%, Emaar Development 53.5%, TECOM 18.5%, Air Arabia 40%, and Salik 43.5% Dubai Investments 15.5% and Empower 43%. Emaar Properties accounted for the largest share of the trade, attracting liquidity of around 13.8 billion dirhams, Emirates NBD attracted 6.25 billion dirhams, Ajman Bank attracted around 5.14 billion dirhams and Dubai Islamic, 4.8 billion dirhams.

Demand growth

Local bourses added about 335 billion dirhams to their market capitalization in the first eight months, driven by increased demand from companies and investment portfolios in addition to new listings. The market capitalization of listed stocks rose from 3.205 trillion dirhams at the end of last year to 3.54 trillion dirhams in the last session last August, including 2.855 trillion dirhams for stocks listed on the Abu Dhabi market and 685.3 billion dirhams for stocks in Dubai. market.

UAE stock markets recorded strong liquidity in the first eight months of 2023 at around 290.4 billion dirhams, with 222.2 billion dirhams distributed on the Abu Dhabi Securities Market and 68.1 billion dirhams on the Dubai market, while around 80.4 billion shares were traded, including 40. Billion shares in the market are 39.9 billion shares in the Abu Dhabi and Dubai market, by executing more than 3.6 million transactions in the two markets.

Extreme measures

On a weekly basis, local stocks reached nearly 6.5 billion dirhams in 5 sessions, supported by intense buying activity in leading stocks.

The market capitalization of listed stocks rose from 3.534 trillion dirhams at the end of last Friday’s session to 3.540 trillion dirhams at the end of yesterday’s session. Local stocks attracted 6.7 billion dirhams worth of liquidity last week, including 5 billion dirhams in the Abu Dhabi market and 1.74 billion dirhams in the Dubai market, after trading 1.67 billion shares, by executing 97.6 thousand transactions.

Dubai market

During the week, shares of Dubai National Insurance gained 3%, Emaar Properties 2.6%, Emaar Development 1.8%, Empower 1.5%, Amanat Holding 1%, DEWA 0.7%, Tabreed 0.5%, Navigation 0.43% and Salik 0.3%. “Emirates NBD” attracted the largest share of Dubai market liquidity, about 355.3 million dirhams, followed by “Emaar Properties” 341.3 million dirhams and then “Ajman Bank”, 169.2 million dirhams.

Abu Dhabi Market

The FTSE Abu Dhabi General Market Index (FADGI) ended the week up 0.22% at 9786.63 points.

“International Holding” performed the largest share of total trading in the Abu Dhabi market with a turnover of 1.09 billion dirhams in a week, followed by “Multiplay” which attracted 593.3 million dirhams, followed by “Alpha Dhabi Holding” with a turnover of 1.09 billion dirhams. 569.7 million dirhams.

In the Abu Dhabi market, shares of ADC Corporation rose 21.8%, Oman and Emirates Investment 15.5%, Rabco Investment 7.8%, Umm Al Quwain National Bank 5%, and Marine Dredging 4.6%. International Holding gained 1.6%, Americana Restaurants 4.5%, Al-Zar Appliances 2.4%, Easy Lease 4.1%, Sharjah Islamic 2.5%, Palms Sports 1.9% and Abu Dhabi National Building Materials 2.6%. 3.5% in Ras al Khaimah.

Daily performance

On a daily basis, the Dubai Financial Market Index rose 0.18% to 4090 points yesterday, while the Abu Dhabi Securities Market Index fell 0.24% to 9786.63 points.

Shares of “Emaar Properties” and “Emirates NBD” continued to lead the trade on the Dubai Financial Market, recording liquidity worth Dh59.2 million at the close of yesterday’s session, and the two stocks closed at Dh7.08 and Dh16.7 respectively. At the end of the session, shares of Emirates NBD rose 2.1%, Al Salam Bank – Bahrain 1.7%, Union Properties 1.5%, Teva 1.2% and Amlock Finance 1%. In the Abu Dhabi market, shares of ADC Corporation rose 14.6%, Fujairah Cement 5.1%, Abu Dhabi National Building Materials 3.7%, Multiplay 3.7%, and Q Holding 1.3%.