The local financial markets recorded strong gains during the beginning of the week session, and the first during Ramadan, while the market value of the listed companies achieved daily gains of 19.4 billion dirhams, including 14 billion dirhams in the Abu Dhabi Stock Exchange, and the rest in the Dubai Financial Market.
According to the data of the two markets, the Dubai Financial Market closed yesterday, up by 3.47% at the level of 1957 points, with transactions totaling 337 million dirhams.
Shares of 29 companies rose out of 31 companies traded, while shares of two companies decreased.
In the Abu Dhabi Securities Market, the general index rose by 2.93% at the level of 4182 points, with transactions totaling 122 million dirhams.
To that, the expert in the financial markets, Jamal Ajaj, said that "the performance of the two markets came as a surprise to everyone in the first session of the month of Ramadan, when all the shares bounced without exception." For investment, and there is no near horizon for the end of the Corona crisis.
He added, "Everyone is optimistic about the improvement in conditions, so the purchase came in anticipation of seizing opportunities," pointing out that "the psychology of dealers had a great role in the positive market performance during yesterday's session."
For his part, the expert in the financial markets, Abdel-Qader Shaath, said that "the performance of our local markets for more than a week violates its Gulf and international counterparts, and this is a good indicator of the disengagement." He explained that "the presence of large purchases took place in yesterday's session by market makers and institutions "It encouraged individuals to enter, which led to strong hikes that were more than expected."