Fri 27-10-2023 14:50 PM
ABU DHABI, 27th October, 2023 (WAM) — The financial markets of the United Arab Emirates and Saudi Arabia topped the Arab stock exchanges during the third quarter of the current year, after achieving market profits of nearly US$167 billion, according to the Arab Monetary Fund.
The Fund, in its quarterly bulletin on Arab capital markets, which monitors the performance of 15 exchanges, said that the markets of the UAE achieved market gains of about $32.5 billion in the third quarter, distributed in the amount of $20.7 billion for the Abu Dhabi Securities Exchange (ADX) and $11.8 billion for the Dubai Financial Market (DFM).
The bulletin explained that the market capitalisation of the ADX rose from $755.9 billion at the end of the second quarter of the current year to $776.7 billion at the end of the third quarter, while the market capitalisation of the DFM increased from $177.8 billion to $189.7 billion.
The bulletin pointed out that the Saudi Financial Market achieved market gains of about $134.1 billion with a rise in its market capitalisation from $2.908 trillion to $3.04 trillion, while the market capitalisation of the Qatar Stock Exchange rose from $162.6 billion to $165.8 billion, gaining more than $3.2 billion.
The bulletin said that the Egyptian Exchange achieved gains of about $7 billion, with its market capitalisation rising from $37.5 billion to $44.5 billion, and the Casablanca Stock Exchange recorded gains of about $1.76 billion, reaching a market capitalisation of $58.9 billion at the end of the third quarter of the current year compared to about $57.2 billion in the second quarter of 2023.
According to the bulletin, the market capitalisation of the Kuwait Stock Exchange reached $133.07 billion at the end of the third quarter of the current year, the Muscat Securities Market to $61.04 billion, the Bahrain Bourse to $20.19 billion, and the Amman Stock Exchange to $23.8 billion.
The market capitalisation of the Beirut Stock Exchange was recorded at about $18.2 billion, the Tunisia Stock Exchange at about $7.4 billion, the Palestine Stock Exchange at $4.88 billion, the Damascus Stock Exchange at about $4 billion, and the Algerian Stock Exchange at $553 million.
Muhammad Aamir / Amjad Saleh