The Stock Market Performance of Dubai Surpasses Higher in a decade

The energy dominance and diverse economics of the members of the Gulf Cooperation Council (GCC) analyse and foster the economic integration, regional security and cooperation of the six Middle Eastern countries including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates. On December 30, it was reported that among the stock market gains of other Gulf regions, Dubai hit the higher index than in the past ten years. The given information states that Dubai’s index rose to 0.6% at 5,112. The major factors which boosted the index of Dubai are Dubai electricity, Water Authority together rose 1.5%, Emaar Development on the real estate market rose 2%  and 5.4% of Shuaa Capital. 

The other member countries index informations has also been shared, which are as follow,

Saudi Arabia – 0.9% gain in Al Rajhi Bank and ACWA Power

AbuDhabi – ADNOC’s 200 billion dirhams investment in the UAE Economy for over five years has encountered 1% gain

Qatar – The Qatar National Bank’s decline led to the consequence of a slight fall in the index.

Egypt – Talaat Moustafa Holding fell and the blue-chip index dropped to 0.2% and a 2.1% loss in El Sewedy Electric.

“Dubai’s solid fundamentals and diversified economic structure place it in a unique position compared to other GCC economies. Prospects for further market growth are high on strong projections and new IPO activities next year” said Hani Abuagla, Senior market analyst at XTB MENA. 

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