UAE: Market Cap of Companies Exceeds $290 Billion Mark

Published August 21st, 2020 - 12:00 GMT
UAE: Market Cap of Companies Exceeds $290 Billion Mark
In Dubai, the Emirates NBD ended the session on a positive note at AED10.75 and DIB closed at AED4.11. At the realty sector, Emaar Properties rose to AED2.93 and Union Properties to 32 fils. (Shutterstock)

The market cap of listed public and private companies in UAE capital markets crossed the one trillion dirham mark, hitting AED1.07 trillion ($291 billion) for the first time in years, a media report said.

On Wednesday, the listed public joint stock companies booked AED11.7 billion in gains driven by a buying spree of powerhouse bank and realty shares, reported Emirates News Agency WAM, citing figures released by the country's two main financial markets.

The upbeat sentiments manifested themselves in the general indices of the country's twin bourses advancing 1 percent and 1.25 percent to 2,246 pts and 4,500 for Dubai Financial Market and Abu Dhabi Securities Exchange, respectively, as compared to yesterday's (August 19) session.

In the capital's bourse, ADQ continued its upward streak and closed higher at AED36.50 and Aldar Properties edged up to AED2. ADCB reached AED11.32 and ADIB followed suit to AED3.98.

In Dubai, the Emirates NBD ended the session on a positive note at AED10.75 and DIB closed at AED4.11. At the realty sector, Emaar Properties rose to AED2.93 and Union Properties to 32 fils.


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