Dubai Financial Market (DFM) witnessed a 1% decline during last week's trading, while Abu Dhabi Securities Market (ADX) gained 0.4%.

Sales of Arabs, Gulf nationals and citizens contributed to the decline in the Dubai market, while foreign purchases supported the Abu Dhabi Securities Market. A financial analyst said that the local financial markets, during the week's trading witnessed the return of confidence among investors, which led to activity in volumes.

Dubai market

In detail, the Dubai Financial Market fell by 1% during last week's trading, closing yesterday, at 2780.01 points.

The trading session on Thursday contributed to the market shift from weekly rise to decline, after the index fell 1.62%.

While the consumer and luxury goods, telecom and transport sectors witnessed the biggest increases of 3.71%, 2.52% and 0.96% respectively, the insurance, banking and services sectors fell 4.66%, 2.38% and 1.66% respectively. . «Amlak Finance» continues to rise in the market, by 19.4% during the week's trading, while Khaleeji Commercial Bank increased by 10.21%, leading the shares soaring shares during the week, while «Salama» and «Takaful Emarat» the biggest declines In the market, a decline of 9.5% 3 and 9.77% respectively. Nationals, Arabs and GCC nationals were net sellers of AED 17.87 million, AED 25.5 million and AED 132.6 million respectively, while foreigners netted ADX buyers by AED 175.99 million.

Institutions were net buyers of AED 207 million, while individuals were net buyers of AED 201.7 million. The rest of the traders made a net purchase of AED 5.352 million respectively.

Abu Dhabi Market

On the other hand, the Abu Dhabi market witnessed a rise during last week's trading, by 0.4%, to close at 5,093.29 points.

The real estate sector index rose by 3.7%, the banking sector by 0.5%, while the investment and financial services sector index fell by 2.04% and the industrial sector by 1.2%.

Nationals and Arabs were net sellers of AED 7.4 million and AED 73 million respectively, while GCC and foreigners were net buyers of AED 868.8 million and AED 79.96 million respectively. Retail investors are net sellers, with a net equity of AED 91.95 million, while institutions are net buyers.

Growing confidence

Talal Touqan, head of investment at BH Mubasher Financial Services, said that the state of anticipation is still present in the local financial markets, with a growing confidence among investors in the markets, which led to increased trading volumes, in light of some news. The positive announcements, such as Air Arabia and Etihad, have launched a low-cost carrier.

He added that the markets witnessed some pressure on shares during the last sessions of last week.

He said banks' announcement of their results contributed to improved investor sentiment, noting that profits were higher than expected.