Dubai market rises to its highest level since February 2018

The Dubai Financial Market index continued to rise for the third consecutive session, by 2.7% at the level of 3255 points, recording its highest level in four years, with large transactions amounting to 1.8 billion dirhams.

Yesterday's session witnessed a rise in the majority of traded shares, as the shares of 20 companies closed at a rise out of the 30 companies that were traded today, while the shares of 7 companies rose, and 3 remained stable.

The "Dubai Financial Market" share continued to rise by a maximum of 2.57 dirhams, to record its highest rise in more than 7 years, with high trading of nearly 193 million shares.

Financial analysts attributed these rises since the beginning of the week to the positive news related to the Dubai economy and the success of the exhibitions organized in Dubai, on top of which is the return of the Dubai Air Show to achieve great deals and achieve the number of visitors to the exhibition 3.5 million visitors in a month and a half, in addition to the good performance of leading companies such as Emaar real estate.

The "Emaar Properties" share rose 4% to 5.10 dirhams, with transactions exceeding 105 million shares, while the "Emaar Malls" share rose 7.9% to 2.60 dirhams, and transactions approached 123 million shares.

Shares of "Amlak Finance" rose by the maximum rate of 0.379 dirhams, with transactions exceeding 6 million shares, while "Dubai Islamic" rose by 1.3% to 5.51 dirhams, and transactions exceeded 22 million shares.

The most heavily traded stock was "Deyaar Development", with a maximum value of 0.414 dirhams, rising to its highest price in more than 3 years, with transactions exceeding 241 million shares.

On the other hand, the Abu Dhabi Securities Exchange index reversed its direction after 7 continuous sessions of rise, and closed down by 0.3%, at the level of 8269 points, with transactions worth a total of 1.9 billion dirhams.

The "Aldar Properties" share closed down by 1% at 4.120 dirhams, with transactions of nearly 75 million shares, while the "Eshraq Investments" share rose by 3% at 0.378 dirhams, with transactions of nearly 50 million shares.

The "ADNOC Drilling" share decreased by 0.9% at 3,400 dirhams, with transactions exceeding 22 million shares, while the "Dana Gas" share decreased by 1.8% at 1,110 dirhams, with transactions of nearly 56 million shares.

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