Investor optimism brings stock markets close to one billion dirhams

Photography: Ahmed Arditi

The UAE financial markets continued their bullish march for the second day of their transactions in September, supported by the optimism dominating the behavior of investors, which encouraged them to pump more liquidity, which in turn boosted the gains of general indices.

And the market value of the traded companies' shares gained about 3.2 billion dirhams at the close of trading.

The trading liquidity returned to approach the one billion dirhams barrier in today's session, as the value of the concluded deals reached 930 million dirhams and the number of traded shares reached 853 million shares executed through 9002 transactions.

Wael Abu Muheisen, a financial expert, said that the state of optimism still controls the behavior of dealers, which contributes to maintaining the market’s upward approach, noting that a large part of the liquidity that is pumped into the market during the past weeks belongs to local and foreign institutions and portfolios.

Abu Muheisen expected the continuing improvement in market transactions, which will contribute to attracting more investors to trade in order to achieve the largest amount of gains, whether on the short or medium level.

And in detail .. With regard to the movement of indices, the general index of the Abu Dhabi Securities Exchange rose to 4,547 points, an increase of 0.48%, while the general index of the Dubai Financial Market closed at 2259 points, an increase of 0.32% compared to yesterday's session.

The shares of First Abu Dhabi Bank witnessed active transactions that exceeded 111 million dirhams, pushing the share to reach the level of 11.52 dirhams, and Aldar’s shares also recorded a strong rise of 2.09 dirhams, amid deals worth nearly 110 million dirhams.

For his part, the share of the International Holding Company rose to 37.80 dirhams, its highest level ever, and the value of trades recorded on it exceeded more than 93 million dirhams.

In the Dubai Financial Market, Emaar Properties' share returned to its activity up to AED 2.91, and Shuaa's share rose to about 72 fils with trades exceeding 113 million dirhams, and some small stocks recorded good gains despite their low weight in the general index of the market.

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