Dubai Financial rose 4.5%
Weekly stock rises touch pre-Corona levels
The general index of the Dubai Financial Market closed at 2420 points.
■ archive
Abdul Qader Shaath: “Some stocks have achieved prices they have not reached since 2019, such as the real estate sector.”
picture
The local financial markets achieved a distinguished weekly performance over the course of five sessions, especially the Dubai Financial Market, whose general index rose by 4.5%, equivalent to 104 points. .
During yesterday's session, alone, the Dubai Financial Market General Index was able to resist profit-taking during trading hours, and closed up 0.28% at 2420 points, while trading recorded 241 million dirhams.
Shares of nine companies out of the 33 companies traded yesterday, while the shares of 16 companies declined, and eight companies remained steady.
Emaar Properties closed down 0.3% at 3.26 dirhams, with more than 13 million shares traded.
Shares of "Dubai Islamic" rose by 0.7% at 4.47 dirhams, and in turnover of nearly six million shares, while the share of "Air Arabia" rose 2.5% at 1.25 dirhams, and trades exceeded 23 million shares.
The "Union Real Estate" share came as the most traded stock, and it fell by 0.4% to 0.27 dirhams, with more than 70 million shares traded.
On the Abu Dhabi Stock Exchange, the index closed down by 0.34% at 4972 points, with trades amounting to a total of 427 million dirhams, during yesterday's session, alone.
Weekly, the Abu Dhabi Securities Market index rose by 1%, adding 58 points compared to last week's close.
Dana Gas rose 0.4% at 68 fils, with transactions that exceeded 29 million shares.
Abu Dhabi Islamic Bank rose 1.9% at 4.79 dirhams, and traded nearly 18 million shares.
The share of "First Abu Dhabi" decreased by 0.5% at 12.8 dirhams, and in transactions of nearly six million shares.
For his part, Director at Al-Ansari Financial Services, Abdul Qader Shaath, said that “the money markets witnessed an improvement throughout the week, in price and at the level of trading volumes, especially the Dubai Financial Market,” indicating that transactions also included a movement in liquidity between stocks, especially (Real Estate), which was the best performing, along with aviation and services.
Shaath added that “some stocks reached price levels touching pre-Corona levels, at the beginning of last March, and some of them surpassed them, and a number of shares achieved prices that have not reached since 2019, such as real estate shares, and (Dubai Islamic) and ( First Abu Dhabi) ».
He pointed out that the weekly performance is good, in general, and promising, and there are still opportunities to continue to rise, in response to the continued positive news about the distribution of the Corona vaccine and the decline of the pandemic, noting that next week there are only two sessions, after which the National Day holiday begins, and then the markets return. Its momentum.
Follow our latest local and sports news, and the latest political and economic developments via Google news