- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:24 05:43 12:19 15:46 18:51 20:09
DFM also submitted a detailed report to SCA including the disclosure dates and its observations on the disclosures. (File)
The combined market capitalisation of the two UAE bourses Dubai Financial Markets and Abu Dhabi Securities Exchange fell $ 18.9 billion (Dh69.36 billion), or nearly 8.5 per cent, to $204 billion in August.
With equity index DFMGI falling 11.6 per cent, Dubai investors lost $10.3 billion last month as their equity values fell due to poor global cues and decline in crude prices.
Abu Dhabi investors also saw value of their equity investments falling $ 8.6 billion in a volatile month with the index losing seven per cent during the month.
The GCC markets ended in red in August, weighed down by a decline in the price of crude oil and other global cues. The TASI registered the maximum fall (-17.3%MoM) due to a decline in heavyweight petrochemical and Banks & Financial services, followed by the DFM (-11.6%), MSM30 (-10.5%), ADX (-7.0%), KSE (-6.9%), BSE (-2.4%), and QE Index (-1.9%).
The combined market capitalisation of the GCC bourses declined 13.2% month-on-month (MoM) to $950.9bn in August, with Saudi Arabia accounting for the largest share – $450.4bn or 47.4 per cent.
Qatar contributed $167.3bn (17.6%), Abu Dhabi and Dubai contributed $204bn (21.5%), and Kuwait, Oman, and Bahrain contributed $129.2bn to the value.
Trading across GCC markets recovered in August. The volume traded rose 46.1% MoM, as trading volumes across markets increased. The value traded increased 57.9% MoM amid surging trading values in all countries, except Bahrain. Market activities were subdued in July due to Ramadan, with the GCC markets closed for Eid. The KSA was the biggest contributor ($23.6bn) to the trading value ($29.8bn).
Follow Emirates 24|7 on Google News.