Skip to content Skip to Search
Skip navigation

Market cap of top 16 UAE-listed companies hit $591bln

By Pramod Kumar
An investor studies a screen at the Abu Dhabi Securities Exchange Reuters
The market value of the local stock markets significantly strengthened in the past year, primarily driven by the strength and resilience of the national economy

The aggregate market capitalisation of the top 16 national companies listed on UAE exchanges reached AED2.71 trillion ($590.83) as of January 2024. 

This figure is anticipated to grow significantly to AED 6 trillion in the coming years, the UAE state-run Wam news agency reported, citing official market data.

The top 16 listed companies accounted for 74 percent, or AED 2.71 trillion, of the total market capitalisation of the local stock markets, which was AED3.66 trillion at the close of trading on January 4.

International Holding Company came in first place with a market capitalisation of more than AED897.5 billion, or 24.5 percent of the total, followed by Abu Dhabi National Energy Company (Taqa) with a market capitalisation of more than AED369.9 billion. 

Adnoc Gas reported a market cap of nearly AED238.6 billion, representing 6.5 percent of the total.

The market value of Alpha Dhabi Holding reached AED187.2 billion, followed by e& with a market value of AED 169 billion.

First Abu Dhabi Bank’s (FAB) market cap reached AED153.3 billion, Dubai Electricity and Water Authority (AED124.5 billion) and Emirates NBD (AED110.5 billion).

The market value of Borouge reached AED74.5 billion, followed by Emaar Properties (AED68.1 billion), Abu Dhabi Commercial Bank (AED 64.6 billion), PureHealth Holdings (AED62 billion), Adnoc Drilling (AED60 billion), Adnoc Distribution (AED45.7 billion), Dubai Islamic Bank (AED41.7 billion), and Aldar Properties (AED41.6 billion).

The market value of the local stock markets significantly strengthened in the past year, primarily supported by the strength and resilience of the national economy, along with solid gains by listed stocks, increased demand from international investors, and new listings. 

The market value of listed stocks gained over AED444.5 billion in 2023, increasing the market capitalisation from AED3.21 trillion in 2022 to AED3.65 trillion by the end of 2023.

The split was AED2.96 trillion for the Abu Dhabi Securities Exchange and AED687.5 billion for the Dubai Financial Market.

Latest articles

Saudi aluminium producer Talco is offering 12 million shares

Aluminium producer Talco announces Saudi IPO

Aluminium producer Al Taiseer Group Talco Industrial Company (Talco) is the latest entity to reveal initial public offering (IPO) plans in Saudi Arabia. The Riyadh-based company, which was set up in 2009, is offering 12 million shares, a 30 percent stake, on the Saudi Exchange (Tadawul) at a nominal value of SAR10 ($2.67) per share. […]

One of the four restaurants in the Palazzo Versace Dubai hotel, which is listed on the Emirates Auction website

Palazzo Versace hotel sale aims to ride Dubai tourism wave

Owners of Dubai’s ultra-luxurious Palazzo Versace hotel are looking to capitalise on the emirate’s tourism boom before it peaks, offering it for sale at nearly AED1.4 billion ($380 million). A source familiar with the asset told AGBI the hotel is being “readvertised” as it has not found a buyer willing to meet its price tag […]

Wind turbines in Bozcaada, Turkey. The country wants to strengthen its renewable energy sector by developing the solar power market

Turkey’s renewables scheme given $1bn by World Bank

The World Bank has signed a $1 billion programme with Turkey to fast-track the nation’s renewable energy expansion initiatives. The financing comprises €600 million ($657 million) in loans from the International Bank of Reconstruction and Development, $30 million from the clean technology fund, and $3 million in grant funding from the World Bank’s energy sector management assistance […]

Mark Foster, who played professional rugby for Gloucester and now heads LIV Golf, says the sport is ripe for investment

LIV Golf chief says rugby next in line for Gulf funds

Talks are taking place with sovereign wealth funds and private equity entities about potential Gulf investment in rugby, according to Mark Foster, senior vice president of finance operations at Saudi-backed LIV Golf Investments. Foster, a former Gloucester and Exeter Chiefs professional rugby player, told The Good the Bad & the Rugby podcast that discussions have […]