The market value of the shares starts the week with a profit of 6.4 billion dirhams
Selective buying raises the local money markets
The general index of the Dubai Financial Market increased by 1.04%.
Photography: Ashok Verma
The local financial markets witnessed a positive performance yesterday, during the beginning of the week’s session, with the support of selective purchases witnessed by the Dubai Financial Market and Abu Dhabi Stock Exchange on various stocks, while the traded liquidity increased again near one billion dirhams registered 984 million dirhams in both markets, While the value of market value gains for shares of publicly traded companies reached about AED 6.4 billion.
Dubai market
According to the data of the two markets, the general index of the Dubai market increased by 1.04% at the level of 2,600 points, with trades totaling 152 million dirhams.
Shares of 14 companies out of the 33 companies traded yesterday, while shares of 14 companies declined, while five companies remained unchanged.
Shares of "Emaar Properties" closed up 1.7% at 3.65 dirhams, and traded nearly 10 million shares, while the share of "Dubai Investments" rose 3.2% at 1.59 dirhams, and trades amounted to about 10 million shares as well.
«Union Properties» shares fell by 0.4% at 0.26 dirhams, and trades exceeded 10 million shares, while the share of «Dubai Islamic» rose 2.3% at 4.8 dirhams, and trading reached more than six million shares.
Abu Dhabi Market
On the Abu Dhabi market, the general index closed up by 0.84% at 5684 points, with trades amounting to a total of 832 million dirhams.
Shares of Ras Al-Khaimah Real Estate increased by 3.7% at 0.54 dirhams, and traded nearly 38 million shares.
The share of «First Abu Dhabi» rose about 1% at 14.48 dirhams, and in transactions that exceeded 16 million shares, while the share of «Dana Gas» rose 0.1% at 0.78 dirhams, and with transactions that exceeded 20 million shares.
Picked shares
In addition, Abdul Qader Shaath, the development manager at Al Ansari Financial Services Company, said that the performance of the local financial markets yesterday was up with the high levels of liquidity that focused on select stocks that achieved successive increases over the past weeks, albeit in small percentages, in addition to stocks. Which is due for distributions during the next two weeks.
He added that the leading stocks in the real estate sector and banks are also witnessing a clear price improvement, in addition to the services sector.
Altitudes
Shaath stated that the Abu Dhabi market is still maintaining price rises, especially in the real estate sector and banking, and interacted with the rise in the aviation and telecommunications sectors, indicating that the upward trend is dominant in the market during the coming period, affected by the positivity of global markets, and he explained that «the rise of the market during the past period It came technically balanced, far from high fluctuations, and this is good for the markets and better for technical indicators, because any strong rise is followed by a correction to the same degree, and this is not good.
He added, "The level of stock prices is gradually increasing in addition to the fact that all the surrounding matters are positive externally, so we expect to maintain a balanced ascending level during the coming period until all distributions are paid."
• Liquidity, traded in the two markets, increased again near one billion dirhams.
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