“Dubai Financial” is the best in the Gulf in 2024

A monitoring conducted by Emirates Today, based on Dubai Financial Market data, showed that the market achieved the best performance among the stock exchanges of the Gulf Cooperation Council countries, during the 12 months in 2024, supported by listed companies’ disclosures of strong quarterly business results, in addition to initial offerings. Which attracted global investors.

According to monitoring, the Dubai market index rose by 27.07%, equivalent to 1098.87 points during the monitoring period, jumping from the level of 4059.8 points at the end of December 2023, reaching the level of 5158.67 points at the end of yesterday’s session, the last session of the year, thus continuing to rise to the highest level since October. 2014, that is, in approximately more than 10 years, and thus the Dubai Financial Index topped the financial market indices. Gulf, which witnessed variation in annual performance during 2024.

The monitoring also showed that the market capitalization of stocks listed on the Dubai market rose by about 219.4 billion dirhams from the level of 687.5 billion dirhams at the end of trading in December 2023, to 906.9 billion dirhams at the end of the last session of December 2024.

Niall Al-Jawabra, chief market strategist at VT Markets, said that the Dubai Financial Market was able to reap new billion-dollar record gains on an annual level in light of its success in attracting more local and foreign investors.

He added that the strong financial results of leading companies and expectations of further growth have contributed to strengthening the position of the Dubai market in the Gulf since the beginning of the year.

For his part, financial advisor Mahmoud Atta said that there are several factors that made the Dubai market lead gains in the region during the year 2024, most notably 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%.