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Markets

Banks Lift Dubai Index 2.86% as Market Adds AED 46.77 Billion and First 2026 IPO Debuts

Abu Dhabi's exchange rose 2.93% in the same week to add about AED 65.03 billion, while the Dubai Investments Park owner gained 5.37% on its trading debut.

·2 min read

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A 5.88% jump in bank shares drove the Dubai Financial Market general index up 2.86% to 6,197.88 in the week to November 13, adding AED 46.77 billion to the value of listed companies. Market capitalisation rose to AED 1.048 trillion, the market's second strong week after a 4.42% gain the week before.

The index added 172.33 points. Market capitalisation rose to AED 1.048 trillion from AED 1.001 trillion a week earlier. The index closed the previous week at 6,025.55 after a 4.42% gain, according to Al Khaleej, which makes this two strong weeks in a row.

Banks did most of the lifting. The banking sector rose 5.88% and luxury consumer goods 5.77%. Basic materials gained 3.24%, industrials 1.89%, basic consumer goods 1.45%, telecommunications 1.4% and utilities 1.08%. Seven sectors finished higher.

Turnover topped AED 6.14 billion. About 1.81 billion shares changed hands in 113,188 deals.

Real estate drew 58.88% of the money traded, about AED 3.62 billion. Emaar Properties alone took about AED 2.63 billion of that. Banks were second with 25.32% of turnover, about AED 1.55 billion. Industrials traded about AED 473.49 million.

Non-Arab foreign investors were net buyers of AED 162.63 million. They bought AED 2.6 billion of shares and sold about AED 2.44 billion.

Abu Dhabi moved by a similar amount. The Abu Dhabi Securities Exchange general index rose 2.93% to 9,667.38. Its market capitalisation reached about AED 2.536 trillion, up from AED 2.471 trillion, a gain of about AED 65.03 billion. Turnover there passed AED 11.09 billion, with about 2.44 billion shares traded in 219,367 deals.

The Dubai week also brought the UAE's first initial public offering of 2026. The holding company that owns the Dubai Investments Park complex started trading on Wednesday, November 11, Emarat Al Youm reported. Its shares rose 5.37% on the first day to AED 1.18, against an offer price of AED 1.12.

The offering raised about AED 1.9 billion for 20% of the company's issued capital. Dubai Investments was the only seller and keeps 80%. At listing the company was valued at about AED 9.7 billion. Its shares turned over AED 113.97 million on the first day, about 9% of the market's total.

The newspaper put the implied dividend yield at about 7.5%, based on expected dividends of AED 725 million for the 2027 financial year.

TagsMarketsFinanceFinancial ServicesUAEGCC

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Nakoda News Markets Desk

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