The performance of the UAE financial markets varied at the end of the first ten months of the current year, the period from January to October 2023, with the Dubai Financial Market rising, while the Abu Dhabi Securities Market declined, coinciding with the continued escalation of the geopolitical situation in the Middle East region.
Based on data from the UAE financial markets, the Dubai Financial Market achieved market gains of 72.485 million dirhams by the end of the first ten months of the year 2023.
Dubai Financial Market
Dubai Stock Exchange jumps 16% in 10 months
The Dubai Financial Market Index rose by about 16.2 percent at the end of the trading period extending from January to October 2023, reaching the level of 3877 points at the end of October 2023, compared to about 3336 points at the end of December 2022.
The market value of Dubai shares recorded 652.898 billion dirhams at the end of last October, compared to about 695.497 billion dirhams last September, with market losses amounting to 42.599 billion dirhams.
Abu Dhabi Securities Market
Abu Dhabi Stock Exchange bucks the trend and declines 8%
On the other hand, the Abu Dhabi Securities Market index decreased by 8.29 percent at the end of the aforementioned period, reaching the level of 9,343 points at the end of last October, compared to about 10,188 points at the end of December 2022.
The market value of Abu Dhabi shares recorded 2.704 trillion dirhams at the end of October 2023, compared to a value of 2.582 trillion dirhams at the end of December 2022, recording gains of about 122 billion dirhams.
