Dubai: Abu Dhabi Securities Exchange (ADX) market capitalisation has jumped to reach Dh441 billion during the first eight months of 2016, according to Rashed Al Blooshi, Chief Executive of ADX.
“The increase in market capitalisation came as a result to the positive performance of the stocks since the beginning of 2016, which led to the increase in market value of shares of listed companies by Dh30 billion”, said Al Blooshi in a statement. “ADX remains one of the fastest growing stock markets in the GCC region,” he added.
The performance of the ADX is a reflection of the positive economic environment in Abu Dhabi in general, which shows the high level of financial gains and liquidity in the capital city of UAE.
Etisalat market value
The banking and telecommunications sectors represent 84 per cent of the market value of national companies listed on ADX valuing Dh369 billion. Etisalat topped Emirati companies in terms of market value reaching Dh172 billion, whereas the banking sector stood at Dh198 billion.
As for the market value of other sectors, real estate has reached Dh25 billion; Dh11 billion for services sectors, and Dh10.5 billion for the industry sector.
“We predict further growth in the market value by the end of the year,” said Al Blooshi.
Around Dh22 billion cash dividends were distributed by ADX listed companies in 2015, which encourages further investments and trades in the ADX.