As 2024 came to a close, UAE stock markets decided to finish with flair, closing out the year with impressive gains and setting the stage for an exciting financial journey into 2025. The Dubai Financial Market (DFM) led the charge, outperforming its Gulf counterparts with a stellar performance, while the Abu Dhabi Securities Exchange (ADX) came tantalizingly close to crossing the historic Dh3 trillion market cap milestone.
In the final trading hours of the year, ADX’s general index inched up by 0.028%, reaching 9,419 points. Though it might seem like a modest increase, the sheer volume of trades told a different story – nearly 471 million shares changed hands across 18,997 trades, reflecting a market buzzing with confidence. The total market capitalization hit Dh2.998 trillion, just a whisper away from the groundbreaking Dh3 trillion mark. With 39 companies enjoying gains and another 37 facing slight losses, the day ended on a positive note, driven by strong performances in sectors like energy, construction, and retail.
Meanwhile, over at the DFM, the party was just as lively. The index climbed 0.105% to 5,158.67 points, marking its highest level since May 2014. This impressive rally was driven by the real estate sector, with developers like Emaar Properties riding a wave of growth. In fact, Dubai’s stock market notched an annual gain of over 27%, its best performance since 2021 – a testament to the emirate’s booming property market and economic resilience.
One of the biggest winners of the day was Agility Warehousing, which shot up by 14.5%, while Emirates NBD, the UAE’s top lender, saw a 1.2% rise, fueling optimism across the market. However, not everyone ended the year on a high – some stocks like Shuaa Capital and Takaful-Emirates experienced minor dips.
As the markets bid farewell to 2024, investors left with optimism, fueled by the UAE’s robust economy, strategic investments, and a thriving real estate sector. If this momentum carries into 2025, UAE markets are set to break records and dominate the Gulf financial scene.
