(MENAFN) The Dubai Financial Market has emerged as one of the standout performers among Gulf stock exchanges since the commencement of 2024, demonstrating robust growth fueled by several key factors. Notably, strong gains for listed stocks, increased demand from international investors, and the addition of new listings have all contributed to the market's impressive performance.
According to data monitored by Al Bayan, the Dubai Financial Market Index has surged by 2.36 percent since the beginning of the year, marking a notable uptick from its level of 4059.8 points at the close of trading in December to 4155.77 points in the most recent April sessions. This surge in the index has correspondingly boosted the market capitalization to approximately 23 billion dirhams.
Moreover, the market capitalization of listed shares in Dubai has experienced a commendable increase, climbing from 687.5 billion dirhams at the end of December's trading to 710.45 billion dirhams in the latest April sessions. Such positive momentum underscores the resilience and attractiveness of Dubai's equities market amid prevailing market dynamics.
Notably, the Dubai Financial Market has outperformed several of its Gulf counterparts in terms of growth levels during the first four months of 2024. While other Gulf market indices, such as Muscat Stock Exchange, Bahrain Stock Exchange, Kuwait, and Saudi TASI, also witnessed gains, the Dubai market's 2.36 percent increase stands out. However, contrasts were observed with declines in the Qatar Stock Exchange and the Abu Dhabi market, highlighting the divergent trajectories within the region's financial landscape.
Overall, the Dubai Financial Market's strong performance underscores its status as a resilient and dynamic hub for investors, supported by favorable market conditions and growing investor confidence.
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