UAE stock market value increased by 7.14% in 2024
Strong economy, foreign investments, and IPOs drive growth in Dubai and Abu Dhabi stock markets
UAE Stock Market Capitalization Hits $1.06 Trillion, Marking 7.14% Increase in 2024
RIYADH: Dubai and Abu Dhabi have seen their stock markets’ combined market capitalization reach 3.90 trillion dirhams ($1.06 trillion) by the end of the year, marking a 7.14 percent year-on-year increase.
The rise in market cap is being driven by a strong economy, foreign investment and a surge in initial public offerings, according to a report by Emirati state news agency WAM.
The stock market in the UAE is one of the largest in the region, after Saudi Arabia, with a market capitalization of SR10.2 trillion ($2.72 trillion) as of December 31.
The Gulf Cooperation Council region saw 48 IPOs in 2024, raising a total of $12.1 billion, according to data from the London Stock Exchange.
Saudi Arabia accounted for 38 initial public offerings (IPOs), followed by the United Arab Emirates (UAE) with seven, Oman with two, and Kuwait with one.
By the end of 2024, the market capitalization of the Abu Dhabi Securities Exchange increased by 1.01 percent annually to reach 2.99 trillion dirhams, WAM added.
The Dubai Financial Market’s market capitalization reached 906.9 billion dirhams by the end of the year, representing a 31.9 percent increase compared to the end of 2023.
In terms of trading, the UAE markets attracted over 449 billion dirhams in value in 2024, with 342.4 billion dirhams on the ADX and 106.7 billion dirhams on the DFM.
According to the report, the total volume of shares traded on the UAE markets in 2024 exceeded 142 billion, with 90.16 billion shares traded on the ADX and 51.85 billion shares traded on the DFM.
The report revealed that trading took place on the UAE markets with over 7.2 million transactions, with 4.655 million on the ADX and 2.55 million on the DFM.
The UAE stock markets reached $1 trillion in market capitalization in November, primarily driven by initial public offerings and strong earnings.
The strong performance of the UAE economy amid economic diversification efforts is playing a key role in boosting the Emirates stock market.
In December, Emirates NBD said the UAE’s economy is expected to expand by 5 percent in 2025, driven by rapid growth in the oil and non-oil sectors.
Last month, the UAE’s Central Bank said the country’s economy was on a sustainable growth path, with its real GDP expected to grow by 4.5 percent and 5.5 percent in 2025 and 2026, respectively.
