An economic analysis has disclosed that the Dubai Financial Market’s (DFM) General Index achieved a remarkable 10.9 percent increase, marking the highest gain in the Gulf Cooperation Council (GCC) region since the start of 2024.
Released by Kamco Invest, the report indicates that the DFM General Index rose by 4.1 percent in September, marking its fourth consecutive month of growth and the most significant monthly increase among GCC markets for September 2024, concluding at 4,503.48 points.
The overall growth was widespread, driven particularly by significant gains in key indices such as the Financial Index, which climbed by 3.6 percent, and the Real Estate Index, which increased by 3.1 percent during September 2024.
The Communications Services Index experienced an impressive 11.1 percent surge, the largest rise for September 2024, while the Consumer Staples and Utilities indices saw gains of 5.7 percent and 5.2 percent, respectively.
Additionally, the report highlighted that the FTSE ADX General Index rose by 1.5 percent in September 2024, rebounding from a 0.6 percent decline in August 2024, and closing the month at 9,425.49 points.
The analysis noted that most GCC equity markets ended September 2024 with positive monthly performances, buoyed by a rally in global financial markets observed in the latter half of the month.
The MSCI GCC index recorded a 0.9 percent increase during this period, reflecting positive momentum in five out of the seven exchanges in the region.
Moreover, the report pointed out that the Qatar Stock Exchange climbed by 4 percent, the Bahrain Bourse increased by 2.8 percent, and Saudi Arabia’s TASI edged up by 0.7 percent.
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