Abu Dhabi, UAE – The aggregate market capitalization of the top 16 national companies listed on local exchanges stood at approximately $734 billion (AED2.7 trillion). Anticipated growth suggests this figure might reach around $1.63 trillion (AED6 trillion) in the coming years.
The 16 listed companies accounted for about 74% of the total market capitalization of the local stock markets, which was around $998 billion (AED3.656 trillion) at the close of trading.
International Holding Company (IHC) held the top position with a market capitalization of more than $244 billion (AED897.5 billion), approximately 24.5% of the local markets’ capitalization. Abu Dhabi National Energy Company (Taqa) followed with a market capitalization of more than $100 billion (AED369.9 billion), around 10.1%. ADNOC Gas held about $64.9 billion (AED238.6 billion), representing 6.5% of the total market capitalization.
Alpha Dhabi Holding reached about $50.9 billion (AED187.2 billion), equivalent to a 5.12% share, followed by Etisalat with a market value of $46 billion (AED169 billion) and a 4.62% share. First Abu Dhabi Bank (FAB) had $41.8 billion (AED153.3 billion), or 4.2%. Dubai Electricity and Water Authority (DEWA) had $33.9 billion (AED124.5 billion), and Emirates NBD had more than $30.1 billion (AED110.5 billion).
The market value of Borouge amounted to more than $20.3 billion (AED74.5 billion), Emaar Properties to $18.5 billion (AED68.1 billion), Abu Dhabi Commercial Bank to $17.6 billion (AED64.6 billion), PureHealth Holdings to $16.9 billion (AED62 billion), ADNOC Drilling to $16.3 billion (AED60 billion), ADNOC Distribution to $12.4 billion (AED45.7 billion), Dubai Islamic Bank to $11.4 billion (AED41.7 billion), and Aldar Properties to $11.3 billion (AED41.6 billion).
The market value of the local stock markets significantly strengthened in the past year, gaining over $121 billion (AED444.5 billion) and increasing the market capitalization from $874 billion (AED3.206 trillion) at the end of 2022 to $998 billion (AED3.651 trillion) by the end of 2023. This distribution included $807 billion (AED2.963 trillion) for the Abu Dhabi Securities Exchange and $187 billion (AED687.5 billion) for the Dubai Financial Market.