Emirates News Agency – The market value of the UAE’s shares exceeded one trillion dirhams, raising its competitiveness in global indices

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ABU DHABI, 28th October, 2018 (WAM) – The competitiveness of the UAE financial markets has increased within the specialized international indicators after the total market value of the shares of publicly traded companies (public and private shareholding) has returned to surpass the one trillion dirhams barrier this October.

According to the statistics issued by the financial markets in both Abu Dhabi and Dubai, the market value of the listed companies ’shares accounted for about 66% of the UAE’s GDP for the year 2019.

These developments came as a result of the gains achieved by the market value of shares of publicly traded companies, which exceeded 93 billion dirhams since the beginning of this year until the end of the current October transactions.

According to international institutions specialized in tracking the competitiveness of the financial sector, the market value of stocks compared to the gross domestic product in any country is a major indicator to judge the competitiveness of these markets on the world level.

In detail, the market value of the shares of companies traded on the Abu Dhabi Securities Exchange increased to above the level of 702 billion dirhams during the month of October 2020.

The banking sector ranked first, with a market value of 210 billion dirhams this October, which constitutes 29.8% of the total market value in the Abu Dhabi Stock Exchange, while the energy sector reached 208.6 billion dirhams, about 169 billion dirhams for the telecommunications sector and 23 billion dirhams for the real estate sector. The rest of the value was distributed to other sectors.

In the Dubai Financial Market, the banking sector came in first place with a market value of approximately 162.5 billion dirhams during the month of October of this year, which constitutes 52% of the total market value of all companies listed in the market.

While the market value of the real estate sector in Dubai reached about 60 billion dirhams, it reached about 25 billion dirhams in the telecommunications sector … and the rest of the value is distributed among other sectors.

The market value of the UAE financial markets compared to the GDP witnessed a fluctuation in its movement index during the past years, reaching 59.9% in 2019 compared to 55% in 2018, while its percentage reached 61% in 2017 and 60% in 2016.

WAM / Nasser Aref / Emad Al-Ali

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