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Analyzing Dubai's Top 10 Stocks

The Dubai Financial Market (DFM) is one of the leading stock exchanges in the Middle East region and the largest by total market capitalization. It is home to some of the largest and most prominent companies in the UAE, and its top 10 stocks by market capitalization are a good representation of the market's overall performance. In this article, we will analyze the top 10 stocks by market capitalization on the Dubai Stock Exchange and provide insights into their performance and outlook.


For live up-to-date stock quotes on below companies visit the Dubai Financial Market's Market Watch interface.


Dubai's top 10 stocks by market capitalization mainly feature companies from the real estate, insurance and banking sectors


Emirates NBD (ENBD)

Emirates NBD is the largest banking group in the UAE by assets and total market capitalization. It operates in several countries and provides a wide range of financial services, including retail banking, corporate banking, wealth management, and investment banking. Emirates NBD has a market capitalization of AED 49.3 billion ($13.4 billion) as of 2021, making it the largest stock on the Dubai Stock Exchange. In 2021, the bank's net profit increased by 21% to AED 10.4 billion ($2.8 billion), driven by a recovery in economic activity and improved asset quality. The bank's outlook remains positive, given the improving economic conditions in the UAE and the region.


Emaar Properties (EMAAR)

Emaar Properties is one of the largest real estate developers in the UAE, with a market capitalization of AED 36.8 billion ($10 billion). The company's portfolio includes residential, commercial, and hospitality properties, and it has a significant presence in several countries including India, Turkey and Egypt. Emaar is the Master developer behind Downtown Dubai and Dubai Marina, Emirates Hills and Dubai Hills Estate. Emaar Properties' revenue for 2021 was AED 15.5 billion ($4.2 billion), up by 27% compared to the previous year, driven by strong sales and handovers. However, the company's net profit for the year declined by 12% to AED 2.2 billion ($599 million), due to higher costs and provisions. Emaar Properties' outlook remains positive, given the recovery in the real estate market in the UAE and the company's strong brand and market position.


Dubai Islamic Bank (DIB)

Dubai Islamic Bank is the largest Islamic bank in the UAE, with a market capitalization of AED 34.7 billion ($9.4 billion). The bank provides a range of Islamic financial products and services, including retail banking, corporate banking, and investment banking, which are all compliant with Sharia Law. In 2021, the bank's net profit increased by 9% to AED 5.1 billion ($1.4 billion), driven by higher financing and investment income. Dubai Islamic Bank's outlook remains positive, given the strong demand for Islamic finance and the bank's market position and product offering.


First Abu Dhabi Bank (FAB)

First Abu Dhabi Bank is the largest bank in the UAE by assets and the second-largest by market capitalization, with a market capitalization of AED 33.4 billion ($9.1 billion). The bank provides a range of financial services, including retail banking, corporate banking, and investment banking. FAB is also regularly ranked as one of the world's safest banks, and as the safest bank in the UAE. In 2021, the bank's net profit increased by 5% to AED 12.5 billion ($3.4 billion), driven by higher income from net interest and fees. First Abu Dhabi Bank's outlook remains positive, given the improving economic conditions in the UAE and the bank's strong market position.


Abu Dhabi Commercial Bank (ADCB)

Abu Dhabi Commercial Bank is one of the largest banks in the UAE, with a market capitalization of AED 25.8 billion ($7 billion). The bank provides a range of financial services, including retail banking, corporate banking, and investment banking. In 2021, the bank's net profit increased by 9% to AED 5.6 billion ($1.5 billion), driven by higher income from net interest and fees. Abu Dhabi Commercial Bank's outlook remains positive, given the improving economic conditions in the UAE and the bank's strong market position.


Dubai Islamic Insurance and Reinsurance Company (AMAN)

Dubai Islamic Insurance and Reinsurance Company, also known as AMAN, is a leading insurance provider in the UAE, with a market capitalization of AED 17.4 billion ($4.7 billion). The company provides a range of insurance products, including property and casualty, life and health, and reinsurance in line with Islamic Sharia Law. In 2021, the company's net profit increased by 29% to AED 381 million ($104 million), driven by higher underwriting income and investment returns. AMAN's outlook remains positive, given the growing demand for insurance in the UAE and the company's strong market position.


Dubai Investments (DIC)

Dubai Investments is a diversified investment company in the UAE, with a market capitalization of AED 15.9 billion ($4.3 billion). The company's portfolio includes several subsidiaries and investments in various sectors, such as real estate, manufacturing, and education. In 2021, Dubai Investments' net profit increased by 29% to AED 472 million ($128 million), driven by higher income from investments and real estate. The company's outlook remains positive, given the recovering economic conditions in the UAE and the company's diversified portfolio.


Damac Properties (DAMAC)

Damac Properties is a leading real estate developer in the UAE, with a market capitalization of AED 12.5 billion ($3.4 billion). The company's portfolio includes residential, commercial, and hospitality properties, and it has a significant presence in several countries. In 2021, Damac Properties' revenue decreased by 36% to AED 2.2 billion ($598 million), due to the impact of the COVID-19 pandemic on the real estate market. The company's net loss for the year was AED 1.05 billion ($286 million). However, Damac Properties' outlook remains positive, given the recovering real estate market in the UAE and the company's strong brand and market position.


Union Properties (UPP)

Union Properties is a real estate developer and investment company in the UAE, with a market capitalization of AED 11.8 billion ($3.2 billion). The company's portfolio includes several properties and investments in various sectors, such as real estate, hospitality, and education. Prominent projects include Motor City in Dubai and the Index Tower in Dubai's DIFC financial district. In 2021, Union Properties' net profit increased by 42% to AED 358 million ($97.5 million), driven by higher income from real estate and investments. The company's outlook remains positive, given the recovering economic conditions in the UAE and the company's diversified portfolio.


Dubai Financial Market (DFM)

The Dubai Financial Market is the stock exchange in the UAE, with a market capitalization of AED 10.3 billion ($2.8 billion). The company provides a range of financial services, including listing and trading of securities and other financial instruments. In 2021, the company's net profit increased by 26% to AED 196 million ($53.3 million), driven by higher trading volumes and fee income. The company's outlook remains positive, given the growing interest in the UAE stock market and the company's market position.


Conclusion

In conclusion, the top 10 stocks by market capitalization on the Dubai Stock Exchange represent a diverse mix of companies in various sectors, including banking, real estate, insurance, and investments. While the impact of the COVID-19 pandemic on the UAE economy and the global economy has affected the performance of some companies, the overall outlook remains positive, given the recovering economic conditions in the UAE and the region. Investors should carefully


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