The Dubai Financial Market rose for the eighth consecutive session
The local financial markets ended today's session on a high, as the Dubai Financial Market rose for the eighth consecutive session, maintaining its highest level, closing at 2823.35 points by the end of the session, and the Abu Dhabi Securities Exchange continued to achieve new records for the first time in its history, as it closed The market rose 0.95%, to the level of 7572.82 points.
Historically, the Dubai Financial Market returned to levels before the Corona pandemic, as it closed today at 2,823 points, a level close to its level at the end of January 2020 before the strong correction that occurred during the pandemic period and the closures that took place at that time.
The leading stocks that make up heavier weights in the general index supported the market’s recovery from the Corona correction, although it did not continue its rise to higher levels as it is currently on the Abu Dhabi Stock Exchange, so the Emirates NBD share, the largest weight in the market index, rose from 9.20 dirhams on August 10, 2020. To 13.60 dirhams today, a growth rate of 48%.
The Dubai Islamic Bank share also rose from 3.82 dirhams on August 10, 2020 to 5.07 dirhams today, with a growth rate of 33%, and the share of Emaar Properties rose from 2.67 dirhams on August 10, 2020 to 4.03 dirhams today, with a growth rate of 51%.
The Abu Dhabi Securities Exchange closed up 0.95%, to a new historical level at 7572.82 points, where transactions took place on 156.23 million shares, with a value of 1.36 billion dirhams.
Historically, the general index of the Abu Dhabi Securities Exchange continued to set new records, to record yesterday the highest closing in its history at 7,573 points.
The market started recording record levels since the end of last year 2020, after resuming its upward trend after the strong correction witnessed in March and April 2020, due to the Corona pandemic and the closures and the resulting crisis.
The rise of the Abu Dhabi Stock Exchange index is supported by the rise in the leading stocks that make up heavier weights in the general index, such as the Emirates Telecommunications stock, which rose from the level of 16.60 dirhams on August 10, 2020, to about 24 dirhams now, with a growth rate of 45%, and the First Abu Dhabi Bank, which rose from about 11.04 dirhams on August 10, 2020, to about 17 dirhams now, with a growth rate of 53%, as well as the share of International Holding, which records the highest market prices for a share with a nominal value of one dirham in the history of the UAE markets, as the stock rose from the price of 35 dirhams on August 10, 2020, to 141 Dirhams today, with a growth rate of 303%.
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