UAE market cap soars as top 20 companies hit Dhs2.8 trillion

The market capitalisation of the 20 largest companies listed on the local stock exchanges by market value reached Dhs2.8 trillion by the end of this week, with further increases expected in line with the markets’ plans to double their market value to Dhs 6 trillion in the coming years.

The 20 listed companies accounted for 77.6 per cent, or Dhs 2.79 trillion, of the total market capitalisation of Dhs 3.59 trillion.

International Holding Company (IHC) came in first place with a market capitalisation of more than Dhs912.29 billion, equivalent to 25.4 percent of the market capitalisation of the local markets, followed by Abu Dhabi National Energy Company (Taqa) with a market capitalisation of more than Dhs296.8 billion and a share of 8.25 percent; then ADNOC Gas L.C. with about Dhs240.2 billion, representing 6.7 percent of the total market capitalisation of the local markets.

The market value of Etisalat by e& with a market value of Dhs161.5 billion and a share of 4.5 percent; then First Abu Dhabi Bank (FAB) with Dhs147.6 billion in market value, equivalent to 4.1 percent; then Emirates NBD with Dhs127.9 billion, and Dubai Electricity and Water Authority (DEWA) with Dhs119 billion.

The market value of Borouge amounted to more than Dhs77.8 billion; Emaar Properties Dhs77.6 billion; ADNOC Drilling Dhs74.2 billion; Abu Dhabi Commercial Bank Dhs63.7 billion; and Aldar Properties Dhs59.6 billion and Q Holding Dhs51 billion.

Abu Dhabi Islamic Bank’s market capitalisation was Dhs47.6 billion, ADNOC Distribution Dhs45.6 billion, Dubai Islamic Bank Dhs44.7 billion, Mashreq Dhs42.7 billion, PureHealth Dhs 41 billion and ADNOC Logistics and Services Dhs40.5 billion.

WAM