ADX Gains AED13.5 Billion Driven by Financial Blue Chips

The stock market of Abu Dhabi, namely the ADX, demonstrated a strong performance at the end of today’s trading sessions with more than AED13. 5 billion added to the total market capitalization. This sharp rise was mainly pushed by the financial blue-chip stocks, a fact that clearly underlines that these stocks are and remain an essential pillar of index substitution strategies.

Within the course of today’s session alone, the total revealed market capitalization of all the UAE local stocks grew to a staggering AED3. 451 trillion. The breakdown embraces AED 2771. 7 billion for the shares trading in ADX and AED 674. 3 billion for the issuers floated in the DFM.

Local stocks benefited from significant interest and liquidity with a value of around AED 1. 3 billion. Out of which AED 945. 7 million was made in Abu Dhabi and AED 355. 3 million in Dubai. It was rather active trading day at the market since about 626. 9 million shares were exchanged via 25 100 and more transactions.

Meanwhile, the FTSE ADX index barely edged higher in the last trading and was 0. 1% higher at 9022. 32 points. In the same respect the DFM general index only recorded a slight volatility and closed at 4000. 25 points.

Today’s results shed a light on the role of the investors and their commitment in the continuation of increase in the UAE’s financial markets. It has also been noted that while the trading volumes and market capitalisation have increased, by enhancing, it points to the fact that traders and investors are bullish on the financial blue-chip stocks thus supporting the market’s outlook.