Last Updated on September 9, 2024 by Safiya K
- The market capitalisation of the 20 largest UAE-listed companies reached AED 2.8 trillion ($762 billion) by the end of the week, accounting for 77.6% of the total market value.
- International Holding Company (IHC) led with a market capitalisation of AED 912.3 billion, making up 25.4% of the total.
- Abu Dhabi National Energy Company (Taqa) and Adnoc Gas followed, with market values of AED 296.8 billion and AED 240.2 billion, respectively.
- Major firms like Etisalat, First Abu Dhabi Bank (FAB), and Emirates NBD also held significant market shares.
- The UAE markets plan to double their market value to AED 6 trillion ($1.6 trillion) in the coming years.
The market capitalization of the 20 largest companies listed on the UAE stock exchanges has reached AED 2.8 trillion ($762 billion) by the end of this week. These companies account for 77.6% of the total market capitalization of AED 3.59 trillion, demonstrating their significant influence in the local markets.
This impressive figure is expected to rise further as the UAE stock markets aim to double their market value to AED 6 trillion ($1.6 trillion) in the coming years.
Leading Companies by Market Value
International Holding Company (IHC) secured the top position with a market capitalization exceeding AED 912.3 billion. This represents 25.4% of the total market capitalization, highlighting the company’s dominant role in the UAE’s financial landscape.
Following IHC is Abu Dhabi National Energy Company (Taqa), which holds a market capitalization of AED 296.8 billion, accounting for 8.25% of the total market value. In third place is Adnoc Gas, with a market value of AED 240.2 billion, contributing 6.7% to the overall market.
Significant Players in the UAE Market
Etisalat by e&, another major player, has a market capitalization of AED 161.5 billion, making up 4.5% of the total. First Abu Dhabi Bank (FAB) closely follows with a market value of AED 147.6 billion, representing 4.1% of the market.
Emirates NBD and Dubai Electricity and Water Authority (Dewa) are also significant contributors, with market values of AED 127.9 billion and AED 119 billion, respectively.
Other Notable Companies
Borouge, a leading industrial company, has a market capitalization of AED 77.8 billion, while Emaar Properties, a well-known real estate developer, is valued at AED 77.6 billion.
Adnoc Drilling stands at AED 74.2 billion, followed by Abu Dhabi Commercial Bank with a value of AED 63.7 billion. Aldar Properties holds AED 59.6 billion, and Q Holding has a market value of AED 51 billion.
Financial Institutions and Service Providers
Among the financial institutions, Abu Dhabi Islamic Bank has a market capitalization of AED 47.6 billion. Adnoc Distribution is valued at AED 45.6 billion, followed by Dubai Islamic Bank at AED 44.7 billion.
Mashreq Bank stands at AED 42.7 billion, while PureHealth has a market value of AED 41 billion. Adnoc Logistics and Services closes the list with a market capitalization of AED 40.5 billion.
These companies collectively represent the driving force behind the UAE’s stock market, playing a vital role in the economy and showcasing the growing strength of the nation’s financial markets.
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