It witnessed local and foreign liquidity ... and "Dubai Financial" rose 2.03%
Capital markets achieve 8.6 billion dirhams of market gains
The Dubai market witnessed high trading, amounting to 437 million dirhams ■ Photo: Patrick Castillo
Yesterday, local financial markets witnessed local and foreign liquidity, in which investors traded at a value of 880 million dirhams, roughly between the Dubai Financial Market and Abu Dhabi Stock Exchange, in the first session after the Hijri New Year holiday.
The main indices rose, along with the leading stocks, especially in the Dubai Financial Market, which some of its shares recorded as high as 6%.
The general index of the Dubai Financial Market rose by more than 2%, while Abu Dhabi Securities Exchange scored 0.59%, and the market value of listed companies won 8.6 billion dirhams.
Dubai Financial
According to the data of the two markets, the general index of the Dubai Financial Market rose, yesterday, by 2.03% at the level of 2,281 points, and in high trades, with a total value of 437 million dirhams.
Shares of 21 companies, out of the 35 companies that were traded, increased, while those of nine companies decreased, and the shares of five companies remained steady.
In turn, the share of «Union Real Estate Company» closed up by 1.6% at 0.32 dirhams, and in transactions that exceeded 67 million shares, while the share of «Emaar Properties» rose by 1.7% at 2.96 dirhams, and traded nearly 26 million shares.
GFH rose by 2.09% at 0.633 dirhams, in transactions of nearly 48 million shares, and Emirates NBD rose by 6.1%, at 11.3 dirhams, with transactions that exceeded 13 million shares.
As for the most traded shares in "Dubai Financial", it was the share of "Deyaar Development Company", which rose by 4.8% at 0.31 dirhams, and traded nearly 78 million shares.
Abu Dhabi Securities
In turn, the Abu Dhabi Securities Market index rose by 0.59%, closing at 4,570 points, the highest level in more than five months, with trades totaling 443 million dirhams.
The share of «Aldar Real Estate Company» closed down 1.9% at 2.1 dirhams, with transactions exceeding 50 million shares, while the share of «Ishraq Investment» decreased by 4.9% at 0.41 dirhams, and in transactions of nearly 22 million shares.
For his part, the share of "Manazel Real Estate" rose 1.4% at 0.37 dirhams, and in transactions of nearly 37 million shares, while the share of "Dana Gas" rose 3.5% at 0.71 dirhams, and with transactions exceeding 21 million shares.
Restore strength
The expert in financial markets, Dean Kanaan, told "Emirates Today" that the UAE markets are on the verge of regaining their strength, pointing out that the levels of rise in them are still behind what their global and regional counterparts have achieved, and there are still many opportunities for investors, thanks to the low prices of very good stocks. .
Kanaan stressed that market liquidity has recorded an upward path for some time, as trading volumes increased significantly during this August, which stimulated many local and foreign investors to enter.
Increased liquidity
The expert in financial markets, Dean of Canaan, expected an increase in liquidity and the entry of global investment funds during the coming period, especially with the positive economic situation of the country, and the speed of recovery from the repercussions of "Corona".
He pointed out that the leading stocks witnessed a remarkable performance yesterday, especially in the Dubai Financial Market, which some of its stocks recorded gains of more than 6%, considering that new levels towards the upside.