The market value of companies listed on the Dubai Financial Market and Abu Dhabi Securities Market jumped by 30.3 billion dirhams during yesterday's trading, most of which came from the Abu Dhabi Stock Exchange, which achieved profits of 25.92 billion dirhams.

The Abu Dhabi Securities Exchange closed during trading yesterday, up by 8.41%, and closed at 3,865 points. The Dubai Financial Market ended yesterday's session, up by 2.85% at the level of 1819 points.

For their part, two financial experts said that the strong rises came with the support of several factors, including stimulus decisions by the government and the central bank, and with the support of the Securities and Commodities Authority’s decision to reduce the minimum daily decline to 5%, while maintaining a margin of increase at 15%.

Abu Dhabi Market

In detail, the Abu Dhabi Securities Exchange index rose by 8.41% during yesterday's trading, and closed at 3,865 points, with transactions amounting to 258.1 million dirhams through the circulation of 118.1 million shares. The market value of the market made a leap during yesterday's session, achieving a market profit of 25.92 billion dirhams, up from 377.5 billion dirhams in the first session yesterday to 403.46 billion dirhams during yesterday's session.

Dubai Market

And the Dubai Financial Market closed yesterday's session, up by 2.85% at the level of 1819 points, with trades totaling 380 million dirhams through trading on 529.33 million shares, and the market value increased by 4.43 billion dirhams to 271.42 billion dirhams, compared to 266.99 billion dirhams in the session yesterday . The total market value of the companies listed on the Dubai Financial Market and Abu Dhabi Securities Exchange achieved gains of 30.3 billion dirhams, the vast majority of which came from the Abu Dhabi Stock Exchange.

Markets rise

For his part, Mohamed Ali Yassin, Chief Executive of Strategies at Al Dhabi Dhabi Capital, said, “The market hikes came in conjunction with the state of reassurance that was broadcast on the markets during the past two days, through many of the incentives launched by Abu Dhabi and Dubai, and the decisions taken by the Central Bank. And the Securities Commission, which contributed to the significant increase in markets witnessed by both markets.

He stressed the speed of response by the executive government agencies in dealing with the health crisis and its economic impacts.

He pointed out that, despite the turmoil in the global financial markets, especially the American and oil markets, calm and balance has returned to investors in the local markets, expecting this upward wave to continue with the stabilization of external factors.

He stressed the need not to deal with external news by investors, especially individuals.

Domestic markets

For his part, John Luke, Director of Development at THanks Markets, said that “the leap achieved by the local markets, especially the Abu Dhabi market, came as a result of the existence of great opportunities in the market, caused by sharp declines in the past days, which created good opportunities in the market. The market witnessed collective rises of a large number of stocks, in light of investors seizing many opportunities after the sharp decline in the past weeks, due to the outbreak of the Corona virus, and the concerns surrounding the rates of global economic growth, which led to many stocks reaching attractive levels, which led to Begin building new centers, especially as markets continue Work with the margin of increase at its maximum limits of 15%, and keep the margin of decline at the limits of 5%.

He pointed out that the launching of incentive measures by Abu Dhabi and Dubai had a great impact in reassuring and encouraging investors, which included exemptions, the abolition of fees, the features offered to citizens and small and medium-sized companies, the advantages offered to the tourism sector and the provision of liquidity in the financial market, in addition to the central bank's rush to reduce the interest rate , In line with the US Federal Council and other central banks in the region, in a proactive step to maintain and stimulate growth, as borrowers, individuals or companies, will benefit from that reduction, in light of the current negative conditions as a result of the spread of the virus.

- Restoration of calm and balance to local investors despite the turmoil in the global markets.