Market cap of UAE stock markets top $1trn in 2024

The combined market capitalisation of the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) exceeded AED3.91 trillion ($1.06 trillion) in 2024, compared to AED3.65 trillion at the end of 2023.

Growth was driven by a robust economy, foreign investments, and initial public offerings (IPOs), the UAE state-run Wam news agency reported.

The ADX saw its market cap grow to just under AED3 trillion at the close of the market on December 31, 2024, compared to AED 2.96 trillion at the end of 2023.

The DFM also boosted its market capitalisation to AED907 billion at the end of 2024, compared to AED687 billion a year earlier.

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The local markets recorded a total trading value of more than AED449 billion last year, with AED342 billion on the ADX and AED107 billion on the DFM.

The total volume of shares traded exceeded 142 billion, with 90 billion traded on the ADX and 52 billion on the DFM.

Gulf IPOs raised $12.1 billion in 2024 as companies across myriad sectors, including retail, healthcare, energy and financial services, went public, deepening the region’s stock markets.

There were 48 IPOs in the six GCC countries this year: 38 in Saudi Arabia, seven in the UAE, two in Oman and one in Kuwait, according to data from the London Stock Exchange.