Abu Dhabi Securities Exchange (ADX) market capitalization has jumped to reach 441 billion dirhams during the first eight months of 2016, according to Rashed Al Blooshi, Chief Executive of ADX.
“The increase in market capitalization 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 30 billion Dirhams”, said Al Blooshi.
“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.
According to ADX CEO, the banking and telecommunications sectors represent 84% of the market value of national companies listed on ADX (369 billion Dirhams). Etisalat tops Emirati companies in terms of market value reaching 172 billion Dirhams, whereas the banking sector stood at 198 billion Dirhams.
As for the market value of other sectors, the real estate has reached 25 billion Dirhams; 11 billion Dirhams for services sectors, and 10.5 billion Dirhams for the industry sector.
“According to analysts and financial studies, we predict further growth in the market value by the end of the year,” said Al Blooshi.
Around 22 billion dirhams cash dividends were distributed by ADX listed companies in 2015, which encourages further investments and trades in the ADX.