UAE stock markets post largest annual gain in history

Economic resilience, new listings drive gains; market cap climbs Dh1.2tr

The services sector index climbed 176.5 per cent, financial sector by 47 per cent, real estate sector by 8.84 per cent, basic materials by 7.9 per cent, and industry by 7.48 per cent.

The UAE stock market ended 2022 on a high, posting its highest annual gains in history when it closed for trading yesterday.

At the end of trading, the Abu Dhabi Securities Exchange and the Dubai Financial Market saw listed shares gain Dh1.2 trillion in market capitalisation — from Dh2.038 trillion at the end of 2021 to Dh3.206 trillion at the end of 2022.

The market saw strong gains thanks to the country’s economic resilience, new listings, and a sharp recovery after the Covid pandemic.

New listings such as Abu Dhabi Ports, Dewa, Borouge, GFH, Invictus Investment, Tecom, Union Coop, Salik, Burjeel, Bayanat, Empower, Taaleem, and Americana contributed to improving the performance of the markets, enhancing its investment attractiveness, and pulled in a new segment of investors.

Foreign investors made a net purchase of approximately Dh30 billion in the local stock markets during the year.

The Abu Dhabi General

Market Index increased by 20.3 per cent or 1,722.7 points during the year, rising from 8,488.36 points at the end of last year to 10,211.09 points at the end of 2022, after recording the highest level in its history of 10,629.75 points.

The services sector index climbed 176.5 per cent, the financial sector by 47 per cent, the real estate sector by 8.84 per cent, basic materials by 7.9 per cent, and industry by 7.48 per cent.

Non-Arab foreign investors made approximately Dh91.2 billion worth of purchases on the ADX in 2022, and sales worth approximately Dh67.05 billion, resulting in a net positive investment of Dh24.2 billion.

Among the top shares on the DFM were Emaar Properties, up 19.8 per cent, Dubai Islamic (5.9 per cent), Air Arabia (48.3 per cent), Salik (24 per cent), Dubai Investments (12.4 per cent), Ajman Bank (43.2 per cent), Gulf Navigation (120.8 per cent), Emaar Development (0.9 per cent), Deyaar Development (4.5 per cent), Empower (6.7 per cent) and Tabreed (17 per cent).