Share

UAE stocks surge with over AED1 billion in liquidity

Market capitalization soars
UAE stocks surge with over AED1 billion in liquidity
Impressive surge in market capitalization highlight resilience of the UAE stock market

The United Arab Emirates (UAE) stock market witnessed robust activity on Monday, as liquidity surpassed an impressive AED1 billion mark. Investors engaged in over 11,700 transactions, reflecting a vibrant trading day.

Notably, International Holding Company (IHC) and Dubai Electricity and Water Authority (DEWA) emerged as frontrunners in terms of transaction volume.

ADX dominates

The Abu Dhabi Securities Exchange (ADX) took the lead in the stock market, gaining AED885.8 million in liquidity, overshadowing the AED115.2 million accrued by the Dubai Financial Market (DFM). At ADX, 207.5 million shares traded, which underscores the market’s robust performance.

Market capitalization soars

The combined market capitalization of listed stocks in the UAE increased to AED3.593 trillion on Monday. A substantial portion, AED2.916 trillion, was attributed to ADX, while DFM contributed AED676.8 billion. This surge in market capitalization underscores the resilience and confidence exhibited by investors in the UAE market.

Lead gainers in Abu Dhabi 

International Holding Company (IHC) demonstrated a steady ascent, gaining 0.03 percent and closing at AED399.5. With transactions exceeding AED214.1 million, IHC was a significant player in Monday’s trading. Following closely, Alpha Dhabi recorded a 0.1 percent increase, closing at AED19.16 and transactions worth approximately AED102.3 million. Meanwhile, PureHealth maintained stability, closing at AED5.91 with transactions totaling AED98.3 million.

Read: UAE tops Arab economies as most competitive: Arab Monetary Fund

DEWA shines in Dubai

In Dubai, the Dubai Electricity and Water Authority (DEWA) took the lead, recording AED24.5 million in transactions and closing at AED2.45. Gulf Navigation Holding followed suit with transactions worth approximately AED23.7 million, closing at AED7.23—an increase of about 1.12 percent. Meanwhile, Emaar Properties closed at AED7.69, recording AED14.4 million in transactions.

Monday’s dynamic trading session reflected a vibrant and optimistic atmosphere in the UAE stock markets. The sustained momentum and the impressive surge in market capitalization highlight the resilience of the UAE stock market amid global economic fluctuations.

For more news on the economy, click here.

The stories on our website are intended for informational purposes only. Those with finance, investment, tax or legal content are not to be taken as financial advice or recommendation. Refer to our full disclaimer policy here.