ABU DHABI: Dubai Financial Market (DFM) strengthened its gains during the current month’s trading, with its market capitalisation increasing by over AED24 billion, supported by the gains of bank and utility stocks.
The market capitalisation rose from AED687.5 billion at the end of the previous year to over AED711.5 billion by the end of today’s session. Additionally, the market capitalisation of the Abu Dhabi Securities Exchange (ADX) reached around AED2.9 trillion, bringing the combined market capitalisation of both markets to approximately AED3.615 trillion.
Stocks attracted liquidity in January, totaling around AED33.7 billion, distributed with AED25.8 billion in the Abu Dhabi market and AED7.9 billion in the Dubai market. Trading involved over 8.83 billion shares in more than 498,700 transactions.
The general index of the DFM increased by 2.69% in January, equivalent to more than 109 points, closing at 4169.08 points compared to its year-end level of 4059.8 points.
Dubai’s market gains were driven by
the rise of the telecommunications sector index by 8.86%, the financial sector by 6.06%, industry by 3.25%, and services by 1.07%.
At the end of the month, the Abu Dhabi market index, ‘FADX 15,’ closed at 9330.92 points, while the general Abu Dhabi market index, ‘FADGI’, closed at 9508.32 points.
Source: Emirates News Agency