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Dubai financial market profits exceed AED 24 billion in January

The Dubai Financial Market (DFM) strengthened its gains during current month trading, with its market capitalization rising by more than AED 24 billion, supported by gains in banking and utility stocks.

Market capitalization increased from AED 687.5 billion at the end of the previous year to over AED 711.5 billion at the end of today’s session. Furthermore, the market capitalization of the Abu Dhabi Stock Exchange (ADX) reached around AED 2.9 trillion, bringing the combined market capitalization of both markets to approximately AED 3.615 trillion.

The shares attracted liquidity in January, totaling around AED 33.7 billion, spread across AED 25.8 billion in the Abu Dhabi market and AED 7.9 billion in the Dubai market. Trading involved more than 8.83 billion shares in more than 498,700 transactions.

The general index of the DFM increased 2.69% in January, equivalent to more than 109 points, closing at 4,169.08 points compared to its year-end level of 4,059.8 points.

Dubai market gains were driven by the telecom sector index rising by 8.86%, financial sector by 6.06%, industrials by 3.25% and services by 1.07 %.

At the end of the month, the Abu Dhabi Market Index, ‘FADX 15’, closed at 9,330.92 points, while the Abu Dhabi General Market Index, ‘FADGI’, closed at 9,508.32 points.

News source: Emirates News Agency

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