Dubai market rose 5% and Abu Dhabi 3% in a week
"Big deals" raise market liquidity to 2.45 billion dirhams
Dubai Financial Market index closed at 2263 points.
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Abdul Qader Shaath: "The announcement of the profits contributed to recording strong gains for the insurance sector in the Dubai market."
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The liquidity that was traded yesterday in the local money markets rose to 2.45 billion dirhams, the largest percentage of which was concentrated in the Abu Dhabi Stock Exchange, due to large deals on First Abu Dhabi Bank shares, which reached 12 deals worth 1.73 billion dirhams.
Abu Dhabi Market
The closing of the main indices varied, as it recorded a rise in the Abu Dhabi Stock Exchange by about 0.5% during yesterday's single session, to close at 4856 points, while it rose by 3% within a week.
The market recorded high trades, with a total value of 2.2 billion dirhams, due to the high trading of major deals on the first Abu Dhabi stock, which reached 12 deals, with a total value of 1.73 billion dirhams, equivalent to 141.6 million shares.
First Abu Dhabi shares rose 1.3% at 12.4 dirhams, with more than eight million shares traded.
The share of ADNOC Distribution Company increased by 0.9% at 3.37 dirhams, and in transactions close to eight million shares, while the share of Dana Gas decreased by 2.23% at 66 fils and in transactions exceeding six million shares.
Dubai market
While the Dubai Financial Market index fell by 0.9%, during yesterday's session, to close at 2,263 points, with trades amounting to a total of 269 million dirhams, but it rose by 5% during the week.
Shares of seven companies out of the 32 companies that were traded rose, while the shares of 17 companies decreased and eight companies remained steady.
good performance
For his part, Director of Al-Ansari Financial Services Company, Abdul Qader Shaath, said, "The overall performance of the two markets during the week was fairly good, as the Dubai Financial Market rose by 103 points, while the Abu Dhabi market added 138 points, compared to the previous week's closing." “The Abu Dhabi Securities Market witnessed large transactions due to the exchange of properties and the exchange of funds, led by First Abu Dhabi Bank and (Global Holding) shares, and all these exchanges made a big difference in the volume of transactions.
"The Dubai Financial Market also recorded a strong performance during last week’s sessions, especially in the real estate sector, led by Emaar’s shares with its three companies (Emaar Properties, Emaar Development and Emaar Malls),” Shaath added, despite the slight decline in the last week’s session.
He pointed out that the last half hour of yesterday's trading session witnessed strong gains for the insurance sector in the Dubai Financial Market, close to the maximum permissible limit, as it closed with rise rates ranging between 11 and 13%, after high profits were announced for a number of listed companies, in Provided by the Salama Insurance Company, and the Arab Insurance Company.
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