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ABU DHABI/ WAM
Market capitalisation of the Abu Dhabi Securities Exchange (ADX) reached AED441 billion during the first eight months of 2016, registering an increase of AED30 billion in the market value of shares of listed companies.
Rashid Al Baloushi, CEO of ADX, noted that the increase in market
capitalisation is a result of the
positive performance of its listed stocks since the beginning of the year. “ADX remains one of the fastest growing stock markets in the GCC region,†he added.
The performance of the exchange is seen as a reflection of the positive economic environment in Abu Dhabi, in general, which reflects its high level of financial gains and liquidity.
According to Al Baloushi, the banking and telecommunications sectors represent 84 percent of the market value of national companies listed on the exchange, which is AED369 billion. Etisalat tops Emirati companies, in terms of market value, reaching AED172 billion, whereas the banking sector stood at AED198 billion.
As for the market value of other sectors, real estate reached AED25 billion, the services sectors were valued at AED11 billion, and the industry sector reported AED10.5 billion.
“According to analysts and financial studies, we predict further growth in market value by the end of the year,†said Al Baloushi.
Further, ADX listed companies distributed AED22 billion in cash dividends in 2015, which encouraged further investments and trades in the exchange.