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The Dubai Financial Market achieved the best performance during the first 9 months of this year at the level of Gulf stock exchanges, supported by strong gains for listed stocks, increased demand from international investors, in addition to successful new listings..
Al Bayan’s monitoring showed that the Dubai Financial Market Index rose by about 11% over 9 months, jumping from the level of 4059.8 points at the end of last December to 4503.48 points in the last September sessions, bringing its market capitalization to about 69.6 billion dirhams..
The market capitalization of Dubai’s listed shares rose from 687.5 billion dirhams at the end of last December’s trading to 757.09 billion dirhams at the end of the last September sessions..
The Dubai Financial Market received major support from the leading stocks in the main sectors, which have the greatest weight in the index’s weight, after announcing record half-term results..
Gulf indicators
The Dubai market led the rise in Gulf market indices, most of which witnessed an increase in performance since the beginning of 2024, as the Kuwait stock exchanges rose by 3.1%, Muscat by 2.84%, Bahrain by 2.6%, and the Saudi “TASI” by 1.57%, compared to the decline of the Qatar Stock Exchange by 2%, and the Abu Dhabi market by 1.59.%.
Stocks
In 9 months, the performance of the Dubai market was enhanced by the rise in shares of PHM Capital by 104.5%, Parkin by 80.95%, National Industries Holding by 69.5%, Mashreq Bank by 58.55%, and International Financial Consulting by 46.6%.%.
GFH Financial increased by 38%, Du by 34.5%, Salik by 32.8%, Dubai Commercial by 30.3%, Dubai Insurance by 28.86%, Emirates Takaful by 27.4%, Dubai Taxi by 27.2%, Emaar Development by 22.01%, Union Properties by 21.7%, and Emirates NBD by 17.3%. %, Wataniya International 17.2%, TECOM 16.7%, Al Ramz Corporation 12.1%, Emirates Investment 11.9%, and Dubai Islamic 10.1%%.
Emaar Properties accounted for the largest share of trading, attracting liquidity of about 15.5 billion dirhams since the beginning of the year, followed by Emirates NBD, attracting 8.9 billion dirhams, then Dubai Islamic, attracting 6.7 billion dirhams..
Foreign investment
Non-Arab foreign investors tended to buy in the Dubai market with a net investment of approximately 2.06 billion dirhams within 9 months, after achieving purchases worth 25.76 billion dirhams, compared to sales of about 21.4 billion dirhams..
4.12% increase in September
The general index of the Dubai Financial Market continued its gains for the fourth month in a row and rose in September by 4.12%, or the equivalent of 178 points, to close at 4503.48 points, supported by a rise in financial stocks by 3.62%, industry by 3.89%, real estate by 3.1%, and services by 5.23.% Communications services 11.1%, and consumer goods 5.7%.
