The local financial markets recorded strong rises, as a result of selective purchases, which were made during yesterday's trading sessions, where the «Dubai Financial» and «Abu Dhabi Securities» rose by 5.5% in both markets, while the market value of the listed shares achieved gains amounting to 26.8 billion dirhams. The general index of Dubai Financial Market ended its transactions up by 5.54% at the level of 1785 points, with transactions totaling 337 million dirhams.
On the one hand, the Abu Dhabi Securities Exchange ended trading yesterday, up by 5.5% at 3,928 points, with transactions totaling 176 million dirhams.
Meanwhile, the financial analyst, Mohamed Ali Yassin, said that "the gains, yesterday, were strong and the markets badly needed to boost the confidence of investors and ensure that the opportunities are great."
Yassin explained to «Emirates Today»: «that there are two important factors behind the rises of the two markets: the first is to respond to the performance of the American market, which rose during the session, the day before yesterday, by 7%, while the second factor was positive news about the decline in the number of injured and deaths Because of the Corona virus, which gives the impression that the epidemic has begun to subside. ” He added that «yesterday's trading session in the local market recorded the rise of a number of heavyweight stocks in the index in large proportions, especially banks.
And Yassin pointed out that «selective purchases prevailed in the trading session, which means raising awareness among investors about the companies’ performance and future expectations ».