The market value of the UAE’s shares exceeded one trillion dirhams,…

The competitiveness of the UAE financial markets rose within the specialized international indicators after the total market value of the shares of publicly traded companies (public and private shareholding) had returned to surpass the one trillion dirhams barrier during the current month of October.
According to statistics issued by the financial markets in both Abu Dhabi and Dubai, the market value of the shares of listed companies 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 key 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 Stock Exchange increased to above the level of AED 702 billion during the month of October 2020.

The banking sector won the first place 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 communications 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, the telecommunications sector reached about 25 billion dirhams, and the rest of the value is distributed among other sectors.

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