ABU DHABI (WAM)

The aggregate market capitalisation of the top 16 national companies listed on local exchanges stood at Dh2.7 trillion as of Thursday, and accounted for about 74 per cent of the total market capitalisation of the local stock markets, which was Dh3.656 trillion at the close of trading.

International Holding Company (IHC) came first with a market capitalisation of more than Dh897.5 billion, equivalent to 24.5 per cent of the market capitalisation, followed by Abu Dhabi National Energy Company (Taqa) with a market capitalisation of more than Dh369.9 billion and a share of 10.1 per cent. Then came ADNOC Gas (Dh238.6 billion, 6.5 per cent).

The market value of Alpha Dhabi Holding reached about Dh187.2 billion, equivalent to a share of about 5.12 per cent, followed by e& (Dh169 billion, 4.62 per cent, First Abu Dhabi Bank (Dh153.3 billion, 4.2 per cent), Dubai Electricity and Water Authority (Dh124.5 billion), and Emirates NBD (Dh110.5 billion).

The market value of Borouge amounted to more than Dh74.5 billion, Emaar Properties (Dh68.1 billion), Abu Dhabi Commercial Bank (Dh64.6 billion), PureHealth Holdings (Dh62 billion), ADNOC Drilling (Dh60 billion), ADNOC Distribution (Dh45.7 billion), Dubai Islamic Bank (Dh41.7 billion), and Aldar Properties (Dh41.6 billion).

The market value of the local stock markets significantly strengthened in the past year, primarily supported by the strength and resilience of the national economy, along with strong gains by listed stocks, increased demand from international investors, and new listings. The new listings included ADNOC Gas, Presight AI, Al Ansari Financial Services, ADNOC Logistics, Dubai Taxi, Investcorp Capital, Phoenix Group, and PureHealth.

The market value of listed stocks gained over Dh444.5 billion in the past year, increasing the market capitalisation from Dh3.206 trillion at the end of 2022 to Dh3.651 trillion by the end of 2023 -- Dh2.963 trillion for the Abu Dhabi Securities Exchange and Dh687.5 billion for the Dubai Financial Market.