Page 113 - ALEF EDUCATION PR REPORT NOVEMBER 2024

11/19/24, 1:51 PM UAE stock markets hit $1 trillion for the first time boosted by IPOs | The National
SpaceTech company created following the merger of Bayanat and Yahsat, made its trading

debut on the ADX.

Overall, Emirates NBD, Emaar Properties, Emaar Development, Dubai Electricity and

Water Authority are some of the biggest stocks on DFM, while for Abu Dhabi it
is International Holding Company, First Abu Dhabi Bank, e&, Multiply, Alpha Dhabi and

Aldar Properties.

"Dubai has been a star outperformer with many stocks including recently listed ones such

as Dubai Taxi Company, Salik and Parkin making new highs," said Nishit Lakhotia, head

of research at Manama based Sico.

"DFM is a major outperformer to all other GCC stock exchanges, including Tadawul. The

outperformance is backed by strong macro drivers, company financial performance and

future outlook. The momentum in the Emirates looks sustainable and can spill over to next

year."

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