Domestic financial markets continue to rise

2.4% rise in “Dubai Financial” .. and “Abu Dhabi Securities” at a new record level

• Dubai Financial Market closed at the level of 3163 points.

  Photography: Patrick Castillo

• Abdel-Qader Shaath: "The significant improvement in the performance of the markets was supported by the positive developments that coincided with the fiftieth anniversary of the Union."

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Yesterday, local financial market indices continued their upward trajectory for the second day in a row, as the Dubai Financial Market rose by 2.4%, while the Abu Dhabi Securities Exchange recorded a new record, the highest in its history, after it continued its rise yesterday for the fourth consecutive session, as It rose 2.6%.

Dubai market

In detail, the Dubai Financial Market index closed at the end of yesterday's session, up by 2.4%, and closed at the level of 3163 points, after recording transactions with a total value of 895 million dirhams.

The session witnessed the rise of most of the traded shares, as the shares of 29 companies closed at a rise out of the 34 companies that were traded yesterday, while the shares of three companies fell, and two companies remained stable.

altitudes

The shares of «Dubai Financial Market» company closed with an increase of 11% at 2.73 dirhams, with a turnover of nearly 95 million shares, while the share of «Deyaar Development» increased by the maximum at 0.504 dirhams, with a traded amount of 147 million shares.

Also, the «Emaar Properties» share rose by 1.9% to 4.80 dirhams, with transactions amounting to about 41 million shares, while the «GFH» share increased by 0.9% to 1.18 dirhams, with transactions reaching more than 52 million shares.

issued

And "Diyar Development" share was the highest gainer in the Dubai market by 14.7%, closing at 0.50 dirhams, followed by the share of "Ikhtibat" company by 12.34%, closing at the price of 0.27 dirhams, then the share of Dar Al Takaful Company, which rose by 12.3%.

Abu Dhabi market

In turn, the Abu Dhabi Securities Exchange index continued to rise for the fourth consecutive session yesterday, by 2.6%, at the level of 8999 points, the highest level recorded in its history, with transactions totaling 2.9 billion dirhams.

And «Etisalat» shares continued to rise for the fourth session in a row, by 5% at 36.50 dirhams, achieving the highest price since the listing, with trading of nearly 21 million shares.

«Multiplay»

Shares of «Multiplay» rose by 6% to 2,120 dirhams on its second day after listing, with a turnover of 93 million shares, while «First Abu Dhabi» share increased by 4.4% at 20.360 dirhams, with a transaction exceeding 25 million shares.

big improvement

In addition, the financial analyst and development manager at Al-Ansari Financial Services Company, Abdul Qader Shaath, said that the significant improvement in the performance of the local markets was supported by the positive developments that coincided with the celebrations of the fiftieth birthday of the country, the start of the new fiftieth, and thanks to the national program for railways and the union train. Which was launched yesterday, which reflects the development of the infrastructure in the country, and the continuous economic development, which helps to create new opportunities for the private sector construction and infrastructure.

Jump

Shaath added that the Dubai Financial Market achieved a jump in liquidity yesterday, compared to the day before yesterday, as it achieved more than 800 million dirhams, compared to 400 million dirhams, which is a daily increase of 100%, noting that the high level of liquidity in the Dubai market reflects the state of reassurance and confidence it shows. Investors with positive economic news.

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