Market Pulse

TODAY'S INDEX (FADGI): 8887.66 + 0.283%
TODAY'S INDEX (DFMGI): 4195.29 - 0.057%

Down but not out

UAE stock markets plummeted on Monday, mirroring a global selloff triggered by disappointing US economic data and heightened geopolitical tensions in the Middle East. The Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) saw significant declines, reflecting growing investor concerns about a potential global recession and its impact on the region.

However, the Middle East and North Africa (MENA) region is predicted to see a market boom in the near-to-medium term despite the dark clouds gathering over the US and other Western economies that triggered a rout in stock markets around the world over the last two days. The region’s Rhinos – a term used for resilient and successful startups with valuations over $100 million – are projected to create an over $50 billion market cap through initial public offers (IPOs).

Market Smart News you need to know

Agthia reports 31.8% jump in H1 2024 net profit to AED 190mn

Aramco plans $124bn dividends in 2024

Global sell-off hits UAE stocks as US recession fears mount

MENA region poised for $50bn market boom despite US recession fears, market volatility

Market Smart Pick

Agthia Group (AGTHIA)

• Strategic Highlights:

  • Agthia has successfully navigated challenging market conditions, including foreign exchange headwinds and the introduction of corporate tax in the UAE.

  • The company continues to invest in brand development, operational efficiencies, and capturing synergies to drive sustainable long-term growth​​.

  • Growth Forecast: Agthia's earnings are projected to grow at an annual rate of 14.9% over the next few years.

DISCLAIMER: This information is prepared by Market Smart and uses public and reliable sources. Market Smart nor any of its directors, isn't liable for its content or use. It's not intended as investment advice or a solicitation to trade financial products.