In June 2023, the Arab Monetary Fund’s composite index for Arab financial markets finished with a growth of about 0.08%, reaching nearly 484.43 points, up from its position at the end of May 2023. The Dubai Financial Market (DFM) led this uptick among Arab exchanges, experiencing a surge of 6.02%.
The Saudi, Casablanca, and Iraq Stock Exchanges also saw noteworthy improvements, with respective rises of 4.04%, 4.80%, and 5.47%. Further, Kuwait, Muscat, Tunis, and Abu Dhabi markets registered gains ranging from 1.53% to 3.43%. Egypt and Palestine exchanges reported less than a one percent improvement.
In terms of market capitalization, Arab financial markets listed in the database of the Arab Monetary Fund’s composite index achieved gains of approximately 2.63% at the end of June, in comparison to the end of May 2023. Ten Arab exchanges displayed a positive trend, while four other Arab exchanges recorded a decrease.
The DFM topped Arab exchanges in market capitalization growth, with its market index increasing by 5.07%. The Casablanca Stock Exchange followed with a rise of about 4.62%. Other markets, including Kuwait, Abu Dhabi, Saudi, Tunis, Egypt, and Muscat, registered gains ranging from 1.21% to 3.44%. The exchanges of Palestine and Damascus observed an improvement of less than 1%.
However, the value of trading in Arab exchanges decreased by 25.17% in June 2023 compared to May 2023. The drop is due to reduced trading values in nine Arab exchanges, while five other Arab exchanges saw an increase during the same month.
On the volume of trading in Arab exchanges, there was a decline of approximately 21.87% at the end of June 2023, due to a decrease in the trading volume in eight Arab exchanges, while seven other Arab exchanges recorded an increase by the end of last month.
In conclusion, June 2023 witnessed the Dubai Financial Market taking the lead among Arab exchanges, marking a significant improvement in its performance. However, the overall trading volume and value in Arab markets showed a slight decrease compared to May 2023.
