UAE Stock Market Reaches $1 Trillion Market Valuation for the First Time

Forex - According to an analysis by Bloomberg, the total value of stocks traded on the UAE stock exchanges has surpassed $1 trillion. The market capitalization of all companies listed on the Abu Dhabi Securities Exchange (ADX) reached 2.942 trillion Dh at the close of trading on Friday, which equates to approximately $801.56 billion at the current exchange rate of 3.673 Dh per dollar. Similarly, the market capitalization of all companies listed on the Dubai Financial Market (DFM) reached 757 billion Dh, corresponding to approximately $206 billion. Therefore, the total market value of the UAE stock exchanges exceeded the $1 trillion mark at the end of trading on Friday, marking a historic week for the country's financial markets. Stuart Yeomans, CEO of Farringdon Capital, stated, "Surpassing the $1 trillion mark is a remarkable achievement and truly highlights the importance of the UAE as a global financial hub." Yeomans added, "This success is particularly impressive considering the UAE is relatively smaller."