Abu Dhabi – Mubasher: The market capitalisation of the Abu Dhabi Securities Exchange (ADX) rose in the first eight months of 2016 to AED 441 billion, the bourse’s CEO, Rashid Al Beloushi, said Sunday.
The rise is mainly due to the increase in the value of Etisalat’s stocks from AED 86.5 billion by the end of 2015 to AED 172 billion in the first 8 months of 2016, after allowing foreign investors to own the company’s shares.
Al Beloushi expected the market capitalisation to rise by the end of the current year, according to a statement.
Al Beloushi also asserted that the ADX still among the growing markets in the GCC, as its index grew in August by 4% or 163 points to the level of 4,471 points, with a turnover of AED 34 billion.
