Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
The UAE stock markets registered gains on the last day of trading in 2024 with Dubai stock market outperforming other Gulf peers in terms of annual gains.
Abu Dhabi Securities Exchange’s (ADX) general index — FADGI — was up by 0.028%, reaching 9,419.00 points. A total of 18,997 trades were recorded, involving 470 million shares with a combined value of Dh1.47 billion.
The total market capitalisation of all companies listed on the ADX reached Dh2.998 trillion, just Dh2 billion short of historic Dh3 trillion milestone.
Out of the 86 companies traded at the ADX, share prices of 39 companies rose, while 37 declined, and 10 remained unchanged.
State energy company Taqa shares saw unusual rise in transactions with shares worth Dh433 million traded on Tuesday, surpassing International Holding Company which is usually the highest stock traded in terms of value. Aldar, Multiply and Lulu Retail are among the important stocks that closed the last day of the year with some gains.
Top gainers included Waha Capital (+14.47%), Abu Dhabi Co. for Building Materials (+8.45%), Hayah Insurance (+6.67%), and Al Khaleej Investment (+5.68%), while notable losers were Al Dhafra Insurance (-10%), National Bank of Fujairah (-9.79%) and Gulf Cement (-3.67%).
DFM
The Dubai Financial Market’s (DFM) general index (DFMGI) was up by 0.105% to reach 5158.67. DFM index reached highest point since May 2014, helped by a 1.2% rise in top lender Emirates NBD.
The Dubai index notched a yearly gain of over 27% – its biggest since 2021 – outperforming its Gulf peers on the back of real estate sector rally. Blue-chip developer Emaar Properties, which finished flat on the day, registered annual gains of over 60%.
A total of 9,869 trades were executed at the DFM, involving 157 million shares with a combined value of Dh394 million.
The prices of 23 companies rose, while 19 declined, and 11 remained unchanged.
Among the top gainers were Agility Warehousing (+14.50%), National General Insurance (+11.11%) and Emirates Islamic Bank (+3.5%). The most notable losers included Shuaa Capital (-3.81), Salama (-3.26%) and Takaful-Emirates (-2.20%).
