HomeMarketsLocal shares add AED 537 bn to market capital in 7 months
By Economy Middle East
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August 1, 2022 12:59 pm

Local shares add AED 537 bn to market capital in 7 months

Driven by strong gains and new listings
Shares
Dubai Financial Market

During the first half of 2022, local shares in the UAE added more than 537 billion dirhams to their market capitalization, owing to strong gains for listed shares, increased demand from international investors, and 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 as 2.015 trillion dirhams for the Abu Dhabi Stock Exchange and 559 billion dirhams for the Dubai Financial Market (DFM).

The market value of the local markets was increased by the gains of the leading shares, as well as the new listings, which included Abu Dhabi Ports, Dewa, Borouge, GFH, Invictus Investments, Tecom, and Union co-op, all of which contributed to expanding the market’s scope and enhancing its investment attractiveness, as well as attracting a new segment of investors.

The FTSE Abu Dhabi General Market index rose 13.7 percent, or 1161 points, in the first seven months of 2022 to close at 9,648.96 points at the end of July, compared to 8,488.36 points at the end of last year.

During that period, the market achieved its highest historical level ever, reaching 10,171 points in April.

Meanwhile, DFM rose by more than 4.4 percent, or 142.1 points, to close at 3,223.29 points at the end of July, up from 3,195.91 points at the end of 2021.

Furthermore, local markets attracted during the first seven months of 2022, more than 287.7 billion dirhams of liquidity, with 234.1 billion dirhams in the Abu Dhabi market and 53.6 billion dirhams in the Dubai market. 58.5 billion shares were traded, with 37.2 billion traded in the Abu Dhabi market and 21.3 billion traded in the Dubai market, in 2.2 million transactions.