Arabian Post Staff -Dubai
The combined market capitalisation of the UAE’s 20 largest companies has soared to AED 2.8 trillion ($762 billion), marking a significant milestone for the country’s local stock exchanges. These companies, listed on the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM), now represent 77.6% of the total market capitalisation across UAE markets, which stands at AED 3.59 trillion. This achievement comes as the UAE continues to pursue an ambitious strategy to double its overall market value to AED 6 trillion in the coming years.
The top performer, International Holding Company (IHC), dominates the UAE market with a staggering market capitalisation of over AED 912.3 billion, accounting for 25.4% of the local stock markets. Following IHC is Abu Dhabi National Energy Company (Taqa), which holds a market value of AED 296.8 billion. These two firms exemplify the UAE’s growing prowess in sectors such as energy, infrastructure, and diversified investments.
Several other major players have also solidified their positions in the financial landscape. Adnoc Gas has secured a market value of AED 240.2 billion, while Etisalat by e& and First Abu Dhabi Bank (FAB) follow closely with market capitalisations of AED 161.5 billion and AED 147.6 billion, respectively. Companies like Emirates NBD and Dubai Electricity and Water Authority (DEWA) are also notable contributors to the UAE’s market strength, alongside real estate giants such as Emaar Properties and Aldar Properties.
Industry experts point to the UAE’s pro-business environment and its strategic initiatives to attract foreign investment as key factors driving the exponential growth of the stock market. The UAE government has committed to fostering economic diversification, furthering innovation, and implementing financial reforms that facilitate this expansion.
