Top 16 UAE Companies by Market Capitalization
- The market capitalization of the top 16 UAE companies reached approximately AED 2.7 trillion at the start of 2024.
- These companies represent around 74% of the total market value of UAE stock markets.
- Alpha Dhabi Holding leads the list in terms of market cap.
Followed by Abu Dhabi National Energy Company (TAQA) and ADNOC Gas LLC. - UAE stock market capitalization saw significant growth in 2023.
Driven by a strong national economy, positive stock performance, increasing demand from international investors, and new listings. - Market capitalization of listed stocks rose by over AED 444.5 billion in 2023.
Contributing factors to growth:
The robust growth in the UAE stock market capitalization can be attributed to several factors, including:
- Strong national economy: The UAE economy enjoys strong growth and financial stability, creating a favorable environment for equity investment.
- Positive stock performance: Most UAE-listed stocks experienced strong performance in 2023, leading to an overall increase in market value.
- Increased demand from international investors: The UAE stock market is witnessing growing interest from international investors, further contributing to market capitalization growth.
- New listings: 2023 saw several new listings on the UAE stock market, adding to the overall market value.
With the aim of protecting the natural environment and local biological and animal wealth and motivating community members to adopt sustainable and environmentally friendly behaviours. pic.twitter.com/1pbf1imGzc
— UAE Voice (@uae_voiceeng) January 4, 2024
Future outlook:
The Securities and Commodities Authority (SCA) expects the UAE stock market value to continue growing in the coming years, aiming to double it to around AED 6 trillion within the next five years.
Several factors will contribute to the future growth of UAE stock markets, including:
- Continued strong economic growth: The UAE economy is expected to maintain strong growth in the coming years, providing further support for stock markets.
- Increased market openness: The UAE is seeking to further open its financial markets to international investors, which will increase demand for UAE equities.
- Growing economic diversification: The UAE is actively diversifying its economy, creating new investment opportunities in the stock market.
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