The 10 highest rising stocks in the Dubai Financial Market since the beginning of 2024

10 stocks listed on the Dubai Financial Market topped the list of risers from the beginning of this year until the end of the penultimate week of 2024, after rising by rates ranging between 39.7 and 242.2%. This comes in light of the end of the disclosure season for the third quarter of this year, which showed the strength of… Listed companies in terms of operational fundamentals.

During that period, the list of the most rising stocks in the Dubai Financial Market was topped by the shares of the National International Holding Company “Wataniya DQ”, rising by 242.22% to 4.62 dirhams. The stock of International Financial Consulting Holding Company – IFA came second, which rose during the period by 104.44%, reaching the level of 5.25 dirhams.

Emaar Development Company’s shares jumped during that period by about 74.83%, reaching the level of 12.5 dirhams, achieving the highest level since listing and ranking third on that list, amid the increasing pace of sales in the real estate sector, and recording the highest levels ever.

The stock of Emaar Properties came in fourth place, with a share of 62.88%, reaching the level of 12.90 dirhams, which is its highest level since approximately 2008. The record rise of the shares of the largest real estate development company in the Emirate of Dubai was reinforced by the company’s Board of Directors’ recent approval to distribute dividends of 100% of the company’s capital for the current year and for the next few years.

These distributions are double the company’s distributions for last year, amounting to 50 fils per share, worth 4.4 billion dirhams, and four times the distributions for the year 2022. Thus, the Board of Directors adopted a long-term policy for distributing dividends to shareholders, taking into account the cash flows provided by the company, and based on current expectations of cash flows. operational. In fifth place on the list of 10 stocks was the “SALIC” stock, which rose by 62.74%, reaching the level of 5.03 dirhams, thus recording its highest level since listing, to come supported by some positive news, the most recent of which was the Dubai Roads and Transport Authority’s announcement of the start of implementing A new tariff for the “Salik” system at the end of January 2025, and the application of a flexible tariff for paid parking at the end of March 2025, and a parking tariff in areas Events in February 2025.

The stock’s rising performance during that period came amid the expectation of SALIC, the operator of the traffic toll gates in Dubai, that the implementation of the new pricing mechanism for the flexible toll would achieve additional revenues ranging between approximately 60 million dirhams and 110 million dirhams on an annual basis, based on initial estimates. It also obtained, in early December 2024, positive investment-grade credit ratings from Moody’s and Fitch credit rating agencies.

In sixth place, Dubai Insurance shares rose by 57.71%, reaching the level of 13.5 dirhams. The “National Cement” stock came in seventh place, rising by 47.92%, reaching the level of 3.55 dirhams, and the “Integrated Telecommunications Company – Du” stock came in eighth, rising by 44.51%, reaching the level of 7.50 dirhams.

In ninth place, the stock of “Mashreq Bank” came, rising by 42.11%, reaching the level of 216 dirhams, and in the tenth and last place was the stock of “Union Properties”, rising by 39.66%, reaching the level of 0.41 dirhams.

It is noteworthy that the Dubai Financial Market index rose from the beginning of this year until the end of last Friday’s session, the end of the penultimate week of 2024, by 24.6%, reaching the level of 5057.3 points, achieving the highest level in more than 10 years, and recording liquidity amounting to 92.984 billion. AED, with an average daily value of 377.984 million dirhams. The Dubai Financial Market tops the list of Gulf gains in terms of annual performance so far.

. Salik shares jump to the highest level ever and reach the level of 5 dirhams.