155.5b securities traded in UAE stock markets in 2016

(6/20/2017 1:16:00 AM)

With a total traded volume of 155.5 billion securities, the UAE capital markets topped the list of GCC most liquid markets in 2016, with the Saudi Stock Exchange coming second with a total of 67.7billion securities.

The UAE financial markets came second only to Saudi Arabia in terms of market value, which amounted in 2016 to Dhs817 billion, $222 billion, with Saudi bourse coming first with a total market value of $449 billion, while the Kuwaiti Financial Market came third at $88.3 billion followed by Oman at $45 billion and then Bahrain at $19.2 billion.

In terms of listed companies, the UAE market came third with a total of 126 firms, including foreign companies, preceded by the Saudi market with 178, with the Kuwaiti market on top with 196 firms.

Banks, insurance and property firms account for the largest share of companies listed at the UAE markets, claiming more than half of the entities listed in Abu Dhabi Securities Exchange and Dubai Financial Market.

With regards to trading values, the UAE capital markets hit a turnover of Dhs184 billion, $50 billion, in 2016, with the Saudi market reaching $308 billion and Kuwaiti market at $9.5 billion.

In yet a new bullish sign of its ability to break new highs over the coming few days and to further stir the market appetite, Emaar broke the Dhs8.00 mark for the second time in two weeks, drawing transactions worth Dhs88 million on Monday.

Analysts attributed the upbeat sentiments that prevailed today to Emaar’s outperformance, specially that the largest share of liquidity attracted by the company was secured during the second half of Monday’s session, and particularly when the UAE property giant started to fly high until the end of the trading - an overall positive mood which augurs well for several companies to follow suit and noticeably improve during the latter half of the year.

Toward this end, the Dubai Financial Market General Index was up 0.41 percent to close at 3458 points, while Abu Dhabi Securities Exchange edged bit down 0.21 percent at 4491 points.

The Gulf Today