Liquidity is returning to its levels in the past weeks

Financial markets ... a coherent weekly performance supported by the confidence of investors and funds

• Dubai Financial Market closed up by 0.64% at 2528 points.

  Photography: Ahmed Arditi

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The closure of local financial markets varied in the weekend session, yesterday, Thursday, as the general index of the Dubai Financial Market rose by 0.64%, at a time when its counterpart in the Abu Dhabi Stock Exchange declined by 0.5%.

The overall weekly performance recorded a slight decline of 22 points in "Dubai Financial", and nine points in "Abu Dhabi Securities", compared to the previous week's close.

Two financial analysts confirmed that investors have succeeded in absorbing the "closures" announced by some countries for fear of the spread of a new strain of the emerging corona virus, so the indicators held, and liquidity returned to the levels of the past weeks, which confirms the confidence of investors and funds.

Coherence of indicators

The manager at Al-Ansari Financial Services Company, Abdul Qader Shaath, said that the local financial markets witnessed successive rises over the course of two months, during which confidence, liquidity and momentum returned, until they were negatively affected by the news of "closures" announced by some countries for fear of the spread of a new strain of the emerging Corona virus ( Covid-19), stressing that investors have succeeded in absorbing the matter, so the indices held, and liquidity returned to the levels of the past weeks.

Shaath pointed out that the decline, which was simple in its entirety, confirms that the correction of the continuous price hikes was reasonable, and funds and individuals continued to buy and pump liquidity.

good performance

For his part, the expert in financial markets, Dean Kanaan, said that the weekly performance in general is good, especially in the Dubai Financial Market, which witnessed foreign institutional buying, especially on the leading stocks, which established a price boom in the state's markets.

He stressed that the two markets absorbed the news of the return of "closures" very quickly, to resume the indicators and good performance, which confirms the confidence of investors and funds.

Market data

According to the data of the two markets, the Dubai Financial Market closed during yesterday's session, up by 0.64% at 2528 points, and with a total value of 209 million dirhams.

Weekly, the market index decreased by 22 points, equivalent to 0.9%, compared to its close on Thursday, December 17, 2020.

In yesterday's trading session, the shares of 14 companies out of the 32 companies whose shares were traded rose, while the shares of 12 companies declined, and the shares of six companies remained steady.

In turn, the share of "Emaar Properties" closed up 2% at 3.58 dirhams, and in turnover of nearly 20 million shares, while the share of "Damac" rose by 0.7% at 1.42 dirhams, in transactions of nearly 12 million shares.

Shares of "Dubai Islamic" rose 0.6% at 4.68 dirhams, and in turnover of nearly eight million shares, while the share of "GFH" decreased 0.2% at 0.591 dirhams, with more than seven million shares in circulation.

As for the most traded shares, it was «Union Properties», which fell by 0.4% at 0.28 dirhams, with transactions that exceeded 50 million shares.

Abu Dhabi Securities

In the capital market, the general index ended transactions, down by 0.32% at the level of 5126 points, with trades totaling 385 million dirhams.

Regarding the weekly performance, the index decreased by nine points, equivalent to 0.2%, compared to the previous Thursday's close.

In turn, the share of "First Abu Dhabi" closed down 0.5% at 13.2 dirhams, with transactions that exceeded seven million shares, while the share of "ADNOC Distribution" decreased by 2% at 3.82 dirhams, with transactions that exceeded 12 million shares.

The share of «Ishraq Investment» decreased by 2.2% at 0.31 dirhams, in transactions of nearly 15 million shares.

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