UAE stocks gain $60bln in market value in H1 2023
Timilehin Adejumobi
1 min read
The market value of local stock markets rose by some AED220 billion in the first six months of 2023, boosted by higher demand from foreign investors and new listings.
Four new listings boosted the market value of the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM), including ADNOC Gas and Presight AI in the ADX, and ADNOC Supply and Services and Al Ansari Financial Services in the DFM.
The value of stocks traded on the UAE’s two main exchanges rose by AED220 billion in the first half of 2023, reaching AED3.426 trillion by June.
The ADX accounted for AED2.774 trillion, while the DFM accounted for AED652.1 billion.
In the first half of this year, trading activities in local stocks were valued at more than AED218 billion. Most of this amount, or AED171.6 billion, went to the ADX, while the rest, or AED 46.4 billion, went to the DFM.
The total number of shares traded was around 53 billion, split between 27.6 billion in Abu Dhabi and 25.4 billion in Dubai. Both markets completed over 2.5 million transactions during this period.
This report’s information was first seen on ZAWYA; to read more, click this link.
