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Market cap of UAE-listed companies crosses Dhs1 trillion mark

Market cap of UAE-listed companies crosses Dhs1 trillion mark

On August 19, the listed public joint stock companies booked Dhs11.7bn in gains

Market capitalisation of listed public and private companies in UAE capital markets crossed the Dhs1 trillion mark, official news agency WAM reported.

Market cap hit Dhs1.07 trillion for the first time in years, according to official figures released by the country’s two main financial markets.

On August 19, the listed public joint stock companies booked Dhs11.7bn in gains propelled by a buying spree of powerhouse bank and realty shares.

The general indices of Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange advanced 1 per cent and 1.25 per cent to 2,246 and 4,500 points respectively, as compared to the preceding day’s session.

In the capital’s bourse, ADQ continued its rally and closed higher at Dhs36.50, while Aldar Properties edged up to Dhs2.

Abu Dhabi Commercial Bank moved up to Dhs11.32, while Abu Dhabi Islamic Bank followed suit to Dhs3.98.

In Dubai, Emirates NBD ended the session on a positive note at Dhs10.75 and Dubai Islamic Bank closed at Dhs4.11.

In the realty sector, Emaar Properties rose to Dhs2.93 and Union Properties scaled to 32 fils.

DFM announced that net profit for the first half of 2020 rose 21 per cent to reach Dhs78.9m, up from Dhs65.1m during H1 2019.

Read: Dubai Financial Market appoints new CEO, reports 21% rise in H1 profit

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