Dubai Financial Market (DFM) was up 4.8% on the back of Emirates NBD, which rose 20%, while Abu Dhabi fell 1% amid sales from foreigners and individuals.

Emirates NBD was the biggest supporter of Dubai during the week, but weak liquidity in the market prevented other stocks from benefiting from the rally, two financial analysts said.

Dubai market

In detail, the Dubai Financial Market index rose during the trading week, by 4.8%, to reach 2890.92 points.

The banking sector was the top gainer, up 10.63%, supported by Emirates NBD, which rose 20% during the week.

The indexes of only three sectors witnessed a decline, the largest was the industrial sector, which fell by 7.69%, followed by the services sector, which fell 2.24%, and the real estate sector, which fell by 0.5%.

Arabs and nationals were net sellers of AED 7.325 million and AED 628.5 million respectively, while GCC and foreigners were net buyers of AED 84.7 million and AED 551.158 million respectively.

Institutions were net buyers of AED 233.58 million, while individuals and other investors were net sellers of AED 232.6 million and AED 939.95 million respectively.

Abu Dhabi Market

Abu Dhabi Securities Market Index has declined by 1% to close at 5114.09 points.

The banking sector fell 1.3% during the week, the real estate sector dropped by 2.8%, while the consumer goods sector witnessed a significant increase of 13.9%.

hang in there

Iyad Al Bariqi, general manager of Al Ansari Financial Services, said that the performance of local financial markets was fluctuating during last week's trading, as it rose in some sessions due to positive local news in the markets, the most important of which is the decision of Emirates NBD to expand the percentage of foreign ownership. It has fallen in other sessions as renewed US-Chinese trade war disputes.

Al Bariqi added that the dominant feature of the market is the coherence and not to exaggerate the reaction to the negative news, as the rise was dominated by buying on leading stocks such as Emirates NBD, Abu Dhabi First and Emaar.

He pointed out that foreign liquidity was the player and the strongest influence on the markets, stressing that that liquidity seized opportunities in the market in the attractive prices.

Al-Bariqi said that the performance of the market during the coming period, depends on the rest of the world markets trade disputes, but the state of cohesion and liquidity focused on certain stocks during the past months, calling for optimism, a positive indicator for the future period, provided calm trade disputes and rising global markets, especially that The holiday season is over, and confidence and liquidity are supposed to return to normal levels.

New Investors

Walid Al Khatib, a partner in Global Shares and Bonds, said that liquidity was focused during last week's trading on Emirates NBD, as the stock attracted new investors from other markets.

He pointed out that the weak liquidity in the market was an obstacle to the rise of some other stocks, pointing out that liquidity in the market is currently below expectations, especially after the end of the holiday season.

He pointed out that the market is currently waiting for new incentives, such as corporate news or government news or news about the Expo 2020 Dubai, stressing that such news will stimulate investors to inject new liquidity in the market.

He explained that the decision to form the Higher Committee for Real Estate Planning in Dubai will have an impact on the real estate sector and the shares of real estate companies listed on the market in the long run.