Dubai Financial has earned 83.25 billion dirhams since the beginning of December

The Dubai Financial Market strengthened its gains by adding about 83.25 billion dirhams to its market capitalization, from the beginning of this December until the end of Monday’s trading, supported by traders’ focus on blue-chip stocks, with listed companies beginning to prepare for the annual disclosure season, and then announcing plans for distributions to shareholders amid the emergence of expectations. Especially positive in this regard.

The market value of shares listed on the market rose from 798.715 billion dirhams, at the end of last November’s sessions, to 881.967 billion dirhams at the end of Monday’s trading session.

The general market index rose during that period by 4.3%, or the equivalent of 208.99 points, to reach the level of 5056.33 points, reinforcing its stability above the level of 5000 points again, compared to last month’s closing at the level of 4847.34 points, supported mainly by gains in the shares of the banking and real estate sectors.

A member of the National Advisory Council at the Chartered Institute for Securities and Investment, Wadah Al-Taha, said that the Dubai market is still leading the rise in financial markets in the Gulf countries, with most of the major stocks at attractive profitability levels, compared to other Gulf financial markets.

He explained that one of the factors that contributed to Dubai Financial’s increase in the list of Gulf gains was the good results announced by listed companies for the third quarter of this year, pointing out that there are potential profit-taking operations that may occur in the local financial markets after the middle of this month. Due to the conversion of unrealized profits into realized profits for investment portfolios owned by listed companies, given the imminent close of the fiscal year as a whole.

For his part, the financial advisor, Mahmoud Atta, said that the Dubai Financial Market was able to reap gains estimated at more than 24% since the beginning of this year, in light of its success in attracting more local and foreign investors, amid listed companies approving the largest cash dividends among the region’s markets.

He added that one of the most prominent factors that enhanced the gains of local financial markets was the remarkable activity of non-oil sectors, such as real estate and services, in addition to the return on investment in the market reaching a high rate exceeding 7%.