Markets achieve 13.6 billion dirhams market gain
Gulf and foreign investments doubling market liquidity by more than 200%
The general index of the Dubai Financial Market approached 2.9% ... and closed at 2579 points.
Photography: Ahmed Arditi
Dean Kanaan: “The performance of the local financial markets was excellent, and the level of the Dubai Financial Index was very promising.”
The liquidity of the local capital markets jumped by more than 200%, during yesterday's trading, to reach 887 million dirhams, compared to the beginning of the week's session, when it recorded only 380 million dirhams, supported by clear levels of liquidity and strong foreign and Gulf investments, so that the listed companies achieved market gains of 13.6 One billion dirhams.
The shares of the Dubai Financial Market witnessed clear activity, especially the share of "Emaar Properties", which recorded its highest level in 10 months, as well as the share of "Dubai Investment Company", which supported the rise of the general index of the market to approaching 2.9%, adding 73 positive points, and closing At 2579 points, while its counterpart in the Abu Dhabi Securities Exchange scored 0.72%, at 5115 points.
According to Dubai Financial Market data, shares of 23 companies out of the 35 companies whose shares were traded in the market rose, while the shares of eight companies declined, and the shares of four companies remained steady.
In turn, the share of «Emaar Properties» closed up by 5.3% at 3.77 dirhams, with transactions that exceeded 36 million shares, while the share of «Emaar Malls» rose by 1.6% at 1.89 dirhams, and traded nearly 12 million shares.
Shares of «Union Properties» rose 0.4% at 0.28 dirhams, and trading exceeded 19 million shares, while the share of «Emirates NBD» rose 4.3% at 10.95 dirhams, in transactions of nearly five million shares.
The share of «Dubai Investment Company» the most heavily traded, up by 4% at 1.53 dirhams, and trading nearly 41 million shares.
Abu Dhabi Securities
Abu Dhabi Securities
On the other hand, the Abu Dhabi Stock Exchange closed up by 0.72% at 5115 points, with trades totaling 450 million dirhams.
The share of "Ras Al-Khaimah Real Estate Company" rose 2.3% at 0.49 dirhams, with transactions exceeding eight million shares, and the share of "ADNOC Distribution Company" increased by 3.4% at 3.93 dirhams, and trading exceeded 13 million shares.
Abu Dhabi First share rose 0.9% at 13.24 dirhams, with transactions that exceeded seven million shares.
The expert in financial markets, Dean Kanaan, said that the performance of the local financial markets was excellent during yesterday's session, supported by strong levels of liquidity and strong foreign and Gulf investments, which approached 900 million dirhams.
He added: “The Dubai Financial Market Index rose close to 3%, which is a very promising level,” pointing out that some stocks have made big price jumps, led by “Emaar”, which acquired 30% of trading volumes, and behind it “Dubai Investments”. And Emirates NBD.
Kanaan emphasized that the UAE markets are candidates for a strong movement of rises, and this is evident in the entry of many local and foreign investment portfolios, after the country succeeded in overcoming the Corona crisis, and the positive messages it provided to the world at New Year’s celebrations, and promising indicators of economic growth, pointing to That all of this would provide momentum in the financial markets in the coming period.
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