The market value of companies listed in the local capital markets amounted to 1.599 trillion dirhams

Local shares gain 36 billion dirhams in a week

The shares of 8 companies out of 30 companies in the Dubai Financial Market increased.

Photography: Ahmed Ardeti

Last week, the local financial markets continued to boost their market gains by 36 billion dirhams, accompanied by a billion daily liquidity, most of which were concentrated in the Abu Dhabi Securities Exchange, which for the first time in its history breached the 7040 points barrier.

By the end of yesterday's session, the market value of the companies listed on the Dubai Financial Market and Abu Dhabi Securities Exchange amounted to two trillion and 599.8 billion dirhams.

Over the past week, the general index of the Abu Dhabi Stock Exchange rose 64 points, equivalent to 0.9%, compared to the closing of the previous week, while its counterpart in the "Dubai Financial" recorded a decline of 1.3%, equivalent to 37 points during the same period.

Indications

According to the data of the two markets during yesterday's session alone, the Dubai Financial Market index closed slightly lower, by two points, at the level of 2780 points, and with a total value of 138 million dirhams.

The shares of eight companies out of 30 that were traded, while the shares of 15 companies declined, and seven companies remained unchanged.

In the «Abu Dhabi Securities», the general index of the market closed slightly lower, up to seven points at the level of 6963 points, with transactions worth a total of 1.2 billion dirhams.

The shares of 18 companies out of 45 that were traded, while the shares of 17 companies declined, and 10 companies remained unchanged.

The highest level

Commenting on, the expert in financial markets, Abdel Qader Shaath, told «Emirates Today», that «the Abu Dhabi Securities Exchange recorded, during the past week, for the first time, its highest level ever, reaching 7040 points, which is technically its highest level, and the volume of The market value of the listed companies reached a historical level and a new value, while liquidity maintained at one billion rates every day, and this gives more confidence to investors and a continuous depth of the market.”

«Abu Dhabi market»

Shaath added that "there are a number of stocks in the Abu Dhabi market, whose performance was distinguished to a large extent, during the week's sessions, in several sectors that achieved great heights that touched them for the first time, which increased the appetite of individual and institutional investments."

He explained that among those shares, the Abu Dhabi Shipbuilding Share, as well as the Al Qudra Holding share, which closed yesterday, with an increase of 15%, which is the maximum allowed for increases, as well as the share of Ras Al Khaimah Cement, which rose by 8%, and the share of Marine Dredgers, which It also recorded an increase of 15%, next to the share of Emirates Motor Driving Company.

Shaath stressed that in general, it can be said that "the Abu Dhabi market is still coherent and continuous in technical terms, in achieving strong heights, supported by the volumes of strong torrents," pointing out that the closings of a large number of shares, during yesterday's session, are the best ever.

«Dubai Market»

As for the Dubai Financial Market, Shaath said that the market witnessed, last week, a side performance with slight declines for most shares in all sectors, compared to the previous week's closings, noting that the real estate was most affected by the Dubai Financial Market during the past week.

He stated that "the occasional technical level that dominated the week's performance, was accompanied by a weak liquidity revolving between 150 and 180 million dirhams, stressing the market's need for new stimuli, in addition to the companies expected announcement of the results of the first half, which everyone hopes will contribute to moving stocks upward."

disclosure

In addition, Emaar Properties stated, in a disclosure posted on the Dubai Financial Market website, that it expects the proposed merger with Emaar Malls to be completed by the end of this year.

The company stated that it is currently conducting the normal regulatory approval procedures with the Securities and Commodities Authority, in order to merge with "Emaar Malls" and de-list the latter.

• Billion daily liquidity, most of which is concentrated in the "Abu Dhabi Securities Exchange".

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