The financial market indices in the country continued their rise yesterday, ending the end of the trading session at the end of the week, at clear increases, as the Dubai Financial Market Index rose 3.56%, while the Abu Dhabi Securities Exchange index rose 6.4%.
The market value of the listed companies witnessed an increase of 40 billion dirhams during the week’s sessions, including 13 billion dirhams during yesterday's session.
And the "Dubai Market" closed at the level of 1830 points, with transactions totaling 230 million dirhams, while the "Abu Dhabi Market" closed at the level of 4114 points, with transactions amounting to 196 million dirhams.
To that, the expert in the financial markets, Dean Kanaan, said that the markets exaggerated the reactions towards the spread of the Corona virus and the decline in oil prices, but all these effects were absorbed, so it is natural that the indicators and market value start the way back, and this is what we felt during Sessions this week.
Kanaan explained that the remarkable increases that occurred in yesterday's session, especially in the Abu Dhabi Stock Exchange, came within the framework of rebalancing the portfolios and the entry of more investors, due to the prices reaching very low levels in view of the market value of companies.
He added that the successive stimulus package announced by the government, the central bank, and the decisions of the Securities and Commodities Authority are all supporting markets in facing the pressures they are exposed to due to the global market conditions, and the slowdown caused by the economy due to the Corona virus worldwide.
- Expert: "The rises came within the framework of rebalancing the portfolios and entering more investors."