Yesterday, the local financial markets witnessed a great momentum in daily trading, as its value approached one billion dirhams, the Dubai Financial Market acquired the largest share of it, recording 714 million dirhams in one of its best sessions since the beginning of the spread of the Corona virus, as it continued The rally is supported by individual purchases.
Dubai Market
The Dubai Financial Market Index closed yesterday, up by 1.44% at 2164 points, and in large trading, with a total value of 714 million dirhams.
Shares of 21 companies rose in the market out of 31 companies whose shares were traded, while the shares of seven companies decreased, and three companies remained stable.
Emaar Properties closed 6.5% higher at 2.95 dirhams, with turnovers exceeding 64 million shares, while Dubai Islamic rose by less than 1% at 4.05 dirhams, and trades amounted to more than 20 million shares.
The most heavily traded stock was Union Properties, which rose 13.1% at 0.31 dirhams, with trading exceeding 459 million shares.
Abu Dhabi Market
In the Abu Dhabi Securities Market, the general index of the market fell, by 0.82% at the level of 4369 points, and in trades totaling 280 million dirhams.
And the share of "Abu Dhabi Islamic" increased by 1.3% at 3.83 dirhams, and trading exceeded 21 million shares, while the share of "Abu Dhabi Commercial" by 3.2% at 5.08 dirhams, and trading of nearly six million shares.
The rise of oil
To that, the expert in the financial markets, Jamal Ajaj, said that the performance of local capital markets has been affected during the past months, due to the epidemic of "Corona" alongside the declining results of the companies, as investors had great concerns about the return of economic activities, but with the decline of these fears and the rise of prices Oil investor sentiment increased a lot, especially in the Dubai Financial Market.
Ajaj added that «the local markets are bouncing, albeit at a lower rate than their American counterparts, so investors expect further improvement during the coming period and this is what we saw during the previous sessions, as the pace of buying foreigners and local investors with them, especially on the leading stocks, increased, including supporting key indicators given Of her great weight in her, ”noting that buying individuals was the biggest supporter of yesterday's session.
Great deals
For his part, Director of Al-Ansari Financial Services Company, Abdul Qadir Shaath, said that the most important feature of the Dubai Financial Market’s session yesterday was the large deals that were made on the shares of Union Real Estate Company, where the ownership of 459 million shares valued at 132 million dirhams was exchanged, indicating that the stock It captured about 18% of the Dubai Financial Market’s transactions, and helped lift the momentum of the transactions that are considered the best since the beginning of this year.
Shaath affirmed that investor sentiment is improving day after day thanks to the reopening of markets in Dubai.
He pointed out that the individuals ’purchases constituted the largest share of the market’s transactions, which paves the way for the entry of new individual investments.
2.66 billion dirhams, net citizens ’investments in shares since the beginning of 2020
Citizen investors continued to pump liquidity into the local stock markets, which raised their net investments to 2.66 billion dirhams since the beginning of 2020 until the fourth of June, according to figures released by the Dubai Financial Market and Abu Dhabi Securities.
The follow-up of the trading activity of this segment of investors showed that their net investments increased at a monthly level by almost 9% during the monitoring period, compared to April of the same year, while the growth rate reached 9.6% compared to March 2020.
The net citizens ’investments in Abu Dhabi Securities Market reached 2.322 billion dirhams from the beginning of this year until the fourth of June 2020, while the net citizens’ investments in the Dubai Financial Market amounted to 341 million dirhams.
Abu Dhabi - WAM