- Arab stock exchanges saw strong growth in 2024, with total trading values rising by 58.1% to surpass $1.03 trillion
RIYADH: Saudi Arabia’s Tadawul reinforced its position as the Arab world’s leading stock exchange, accounting for 62 percent of the total market capitalization of regional platforms in 2024.
A recent report by the Arab Federation of Capital Markets said Tadawul’s market capitalization overshadowed other regional exchanges, with the Abu Dhabi Securities Exchange following at a distant 18.6 percent.
The Dubai Financial Market, with a share of 5.6 percent, the Qatar Stock Exchange at 3.9 percent, and Boursa Kuwait, holding 3.2 percent, rounded out the top five.
This dominance comes amid strong performance in the Saudi market, leading the region with the highest turnover ratio of 247.1 percent.
The trading value at Tadawul reached $496.6 billion, significantly outpacing other markets.
The Arab Federation of Capital Markets achieved an 84.4 percent increase in total revenues, from $689,503 in 2023 to $1.2 million in 2024.
The FTSE-AFCM Low Carbon Select Index rose 4.9 percent in 2024, indicating increased investor interest in low-carbon companies.
Iraq Stock Exchange’s ISX60 index experienced a 20.2 percent surge in 2024 to 1,074 points, while Muscat Stock Exchange’s MSX30 index saw a 1.4 percent increase to 4,577 points.
Abu Dhabi Securities Exchange’s FADGI index witnessed a 1.7 percent decline to 9,419 points, and QSE’s QE index dipped by 2.4 percent in 2024 to 10,571 points.
Arab stock exchanges saw strong growth in 2024, with total trading values rising by 58.1 percent to surpass $1.03 trillion. The Egyptian Exchange led the way with a substantial 210.3 percent increase in trading value, reaching $324.4 billion.
Other exchanges also saw positive results, such as the Casablanca Stock Exchange, which grew by 55.2 percent, and the Damascus Stock Exchange, which saw a 163.3 percent increase.
Some platforms, including the Palestine Exchange, which saw a 56.4 percent decline in trading value, faced challenges.
Overall, trading volumes across the region grew by 21.3 percent, and the number of trades increased by 35.9 percent, reflecting a dynamic financial landscape with varying performances across different markets.
The S&P Pan Arab Composite Index rose by 1.9 percent year-on-year in December, while the Amman Stock Exchange index posted a modest 2.4 percent growth. The Casablanca market saw its MASI index jump by 22.2 percent, demonstrating strong performance in the Moroccan market.
The Damascus Stock Exchange index registered the largest increase at 65.7 percent, and the Saudi Exchange index saw the smallest growth at 0.6 percent during this period.
Source: www.arabnews.com