By: Enas Bahgat

Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index grew by 235.11 points, or 9.29%, to 2,764.86 points in 2019.

Market capitalisation went up to AED 374.17 billion over the year, compared to AED 342.85 billion in the previous year.

Dubai Islamic Bank added 10.2%, Emirates NBD surged 46.2%, and Dubai Investments rose by 3.17%. Shuaa Capital increased by 5.5%, Air Arabia soared 57.8%, and du levelled up by 9.7%.

Despite the growth in the DFM’s general index in 2019, the year was full of negative factors including lower liquidity and trading volume, along with the disappointing performance of the real estate sector, Wadah Al-Taha, member of the National Advisory Board of Chartered Institute for Securities &Investments (CISI), told Mubasher. 

External factors also came into play, among them oil prices and the performance of global markets, especially markets in the US, Al-Taha added.

Sectorwise, the banking sector increased by 26.6%, while the investment, telecom, and transport sectors grew by 6.9%, 9.7%, and 8.3%, respectively.

The real estate sector declined by 9.8% and the consumer staples sector plummeted 20.3%.

Damac Properties dropped 50.7% and Arabtec Holding lost 32.1%. Emaar Development, Deyaar Development, and Emaar Malls fell 11.11%, 9.9%, and 2.23%, respectively.

The DFM’s trading volume declined to 30.78 billion shares in 2019, while the market’s liquidity shrank to AED 45.51 billion.

Green December

The DFM’s general index rose by 3.2%, or 86.16 points, in December, after two successive monthly declines.

Translated by: Muhammad Abdul-Wakeel