Dubai – Mubasher: The market capitalisation of the free-flowing shares of the 10 Emirati companies listed on the MSCI Index stood at about AED 128 billion on 13 February, according to Emirates News Agency (WAM).
Emirates Telecommunications Group (Etisalat), listed on the Abu Dhabi Securities Market (ADX), has the heaviest weight of AED 30.18 billion on the MSCI Index, followed by Emaar Properties and First Abu Dhabi Bank (FAB) which free-flowing shares' market cap on the index amounted to AED 22.6 billion and AED 15.6 billion, respectively.
MSCI Inc. promoted the UAE markets to the 'emerging markets category' three years ago in an international recognition of the market growing performance, which subsequently helped the GCC country to lure a foreign institution investment managed by the Morgan Stanley Capital International.
Damac Properties Dubai Co ranked first among the MSCI-listed firms in terms of foreign ownership which accounted for 37.4% of the company's shares, followed by Emaar, Aldar Properties, and Abu Dhabi Commercial Bank (ADCB) with share foreign ownership of 29.19%, 26.17%, and 15.1%, respectively.
Meanwhile, foreign ownership of shares in Dubai Investments reached about 11.5% on 13 February, while it made up10.35%, 9.63%, 8.10%, and 4.18% at Dubai Islamic Bank, FAB, Emaar Malls, and Etisalat, respectively.