The UAE will host Expo 2020!
  • Arabic
Supported by the UAE National Media Council
We are in the process of developing and improving our website, and we invite you to participate in our brief survey to measure the level of your satisfaction
Satisfaction Survey For UAE Interact Website
رغبة منا بالتعرف على مستوى رضاكم عن موقعنا وبهدف تطويره وتحسينه، فقد قمنا بتصميم استبيان سريع لقياس مدى الرضا عن موقع دولة الإمارات العربية المتحدة روعي في تصميم الاستبيان أن يكون قصيرا وسريعا كي لا نطيل عليكم، وعليه نرجو منكم التكرم باستكماله عن طريق الرابط التالي
استبيان رضا المتعاملين عن موقع دولة الإمارات العربية المتحدة

GCC stock trading value exceeds Dh2tr

posted on 28/01/2005: 808 views

The GCC stock markets maintained their four-year bull run with trading crossing the Dh2 trillion mark in 2004, led by Saudi Arabia, according to the latest figures. Analysts project further growth in 2005 on the back of new initial public offerings (IPOs), strong investor sentiment and more linkups of trading floors.

Trading on the six GCC stock markets reached Dh2.02 trillion in 2004 with Saudi Arabia accounting for 85 per cent, according to a GCC report by National Bank of Abu Dhabi (NBAD) made available to Gulf News yesterday. Trading on the Saudi stock market reached Dh1.737 trillion, followed by Kuwait where trading hit Dh190.42 billion, about 9.4 per cent of the GCC total.

With trading of Dh67.10 billion, the UAE stock market ranked third with a share of 3.31 per cent. The Doha Securities Market came next with Dh23.30 billion (1.15 per cent), followed by the Muscat Securities Market with Dh6.88 billion (0.34 per cent) and the Bahrain Stock Exchange with Dh1.7 billion, accounting for just 0.08 per cent.

"This is the first time the total traded value of stocks in the GCC markets exceeded Dh2 trillion, and this kind of growth is expected to continue this year," said Wadah Al Taha, research manager for NBAD's Domestic Capital Markets Group. "The growth was led by the GCC's biggest stock market, with the Saudi Index soaring to 8,206.2 points by end-2004 from 4,437.5 points at the start of the year, a jump of 85 per cent.

"This type of growth is the highest in the last 10 years." The report showed the UAE stock market picking up fast in the second half of 2004, steaming far ahead of the Doha Securities Market. "The UAE stock markets have become one of the most active markets and 2005 will see more robust activity.”The markets here will be supported by the strong economy, excellent profitability of companies and new listings on the stock exchanges," said Al Taha.

"Moreover, the planned links between the Abu Dhabi Securities Market and other bourses is a positive move providing more options for GCC investors and expatriates to participate in the stock market," Wadah Al Taha said.

He said there was no single common thread that ran through the trading pattern on the GCC stock markets. "Each of the markets had their own characteristics and in general they are irrelevant to each other, which is in a way good for the region because the effect of one on the other is limited," Wadah Al Taha said.

ETISALAT's company Etihad Etisalat launched in Saudi Arabia last year climbed to the second highest ranking in terms of the increase in share price on the Saudi stock market.

The share price of the company increased by 652 per cent. (The Gulf News)


13 June 2017 Oman hails UAE, Saudi Arabia and Bahrain's decisions on joint families with Qatar
11 June 2017 UAE welcomes U.S. President's statements about Qatar
11 June 2017 Cabinet endorses list of designated terrorist organisations, individuals
11 June 2017 Saudi Arabia, Egypt, UAE and Bahrain issue statement on lists of designated terrorist organisations, individuals linked with Qatar
11 June 2017 43 new designations specifically address threats posed by Qatar linked and based Al Qaida Terrorism Support Networks

Most Read