Dubai Financial Market is the best in the Gulf since the beginning of 2024

Statistics prepared by “Emirates Today”, based on data from the “Dubai Financial Market”, showed that the market achieved the best performance among the stock exchanges in the Gulf Cooperation Council countries, since the beginning of this year until the end of yesterday’s trading session, supported by the disclosures of listed companies about strong semi-annual business results, in addition to the initial offerings that were implemented and succeeded in attracting global investors.

According to the statistics, the Dubai Financial Market index rose by 7.5%, equivalent to 305.07 points during the monitoring period, jumping from 4059.8 points at the end of last December, to reach 4364.87 points at the end of yesterday’s session.

Thus, the Dubai Financial Market Index topped the Gulf financial markets’ indices, which witnessed varying performance during that period, as the Muscat Securities Market Index rose by 4.9%, while the Kuwait Stock Exchange’s first index rose by 3.63%.

In contrast, the Qatar Stock Exchange index fell by 3.99%, the Saudi market index “TASI” fell by 1.06%, while the Bahrain Stock Exchange index fell by 0.46%.

The statistics also showed that the market capitalization of shares listed on the Dubai Financial Market rose by about 45.7 billion dirhams from 687.5 billion dirhams at the end of trading last December to 733.2 billion dirhams at the end of yesterday’s session, while foreign investors tended towards buying with a net investment of 1.38 billion dirhams, after achieving purchases worth 34.25 billion dirhams, compared to sales of about 32.86 billion dirhams.

In this regard, Raed Diab, Senior Vice President of Research and Investment Strategies at Kamco Invest, said that there are many factors that have made the Dubai Financial Market important to investors and top the list of increases in the Gulf region, most notably the continued improvement in the financial results of companies listed on the market, especially in the banking and real estate sectors.

He added that another important factor is that Dubai and its financial market are a hub for many innovations, thanks to government support, especially with regard to laws that encourage and attract global investors.

For his part, Nayel Al-Jawabra, Chief Market Strategist at VT Markets, said that the Dubai Financial Market was able to attract more local and foreign investors in light of the increased promotion of stocks listed on emerging market indices, such as FTSE Russell and MSCE (formerly Morgan Stanley), noting that one of the reasons for strengthening the position of the Dubai market in the Gulf since the beginning of the year is the strong financial results of leading companies, in addition to the trend of some of them towards interim cash distributions that are satisfactory to shareholders.

Daily transactions

The Dubai Financial Market index ended trading yesterday, Thursday, up by 0.42%, after trading with a total value of 320 million dirhams, with 28 stocks rising, 13 stocks falling, and five stocks remaining stable.

Emaar Properties was the most active stock in the market, with a liquidity of AED 47.55 million, up 1.06%, followed by Emirates NBD with a liquidity of AED 34.93 million, while Gulf Navigation attracted liquidity of AED 34.9 million.

For its part, the Abu Dhabi Securities Exchange General Index (FADGI) fell yesterday by 0.2% to 9307.72 points, with total trading valued at AED 1.04 billion, with 31 stocks rising, 30 stocks falling, and 20 stocks remaining stable.

Global Holding led the activity in the Abu Dhabi market, with the largest share of total trading at more than AED 176.95 million, followed by IBEX Investment, attracting AED 101.4 million, then Alpha Dhabi with liquidity of AED 74.39 million.

2.75 billion dirhams is the value of 212 major deals in the Dubai market

The value and volume of large direct transactions executed in the Dubai Financial Market have witnessed a strong increase since the beginning of this year, which contributed to improving liquidity amid the successive disclosure of semi-annual business results and strong interim dividend distributions that are attractive to investors.

Statistics prepared by “Emirates Today” based on market data showed that the value of large deals increased by 197.2% to 2.75 billion dirhams on 1.77 billion shares through the execution of 212 deals since the beginning of trading in January of this year until the end of trading yesterday, Thursday, which reflects the great confidence of this segment of investors in the local financial markets.

The value of the major direct deals in the Dubai Financial Market amounted to 925.37 million dirhams on 1.29 billion shares, after executing 21 deals during the same period last year.

According to the statistics, the Dubai market witnessed, at the beginning of September, the execution of four large direct deals on the shares of “Al Ansari Financial Services Company”, as the deals were executed on 21.66 million shares, worth 21 million dirhams, at an execution price of 0.970 dirhams per share.

Last September, Dubai Financial announced amendments to the market procedures for large direct transactions, with the aim of improving liquidity, explaining that the amendments will allow those transactions to be executed from 8:00 a.m. to 3:00 p.m., instead of 10:00 a.m. to 2:00 p.m.

The market added that based on this circular, Article Seven regarding the timing of executing the deal will be amended to the new date, within the decision regarding the market’s procedures and steps when executing large direct deals.

It is noteworthy that large direct deals are deals executed outside the order book, and do not affect the closing price of the company’s stock in question, nor the price index, nor do they affect the highest and lowest prices executed during the session and during the last 52 weeks.