It exceeded the external variables and rebounded upwards

1.83 billion dirhams trading liquidity in the financial markets

Dubai Financial Market closed at the level of 3309 points.

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The local financial markets absorbed the geopolitical news related to tensions between Russia and Ukraine, and rebounded to the upside at the end of yesterday's session, after the beginning of trading witnessed selling pressure and an exaggerated negative reaction as a result of global events.

The general index of the Abu Dhabi Securities Exchange succeeded in ending the session up by 0.6%, while its counterpart in the Dubai Financial Market reduced the decline to 0.06%, equivalent to two negative points only.

Total trading liquidity in both markets amounted to 1.83 billion dirhams.

Financial markets expert, Jamal Ajaj, told "Emirates Today", "Concerns prevailed at the beginning of yesterday's session, due to geopolitical developments at the world level, to some extent affected the decisions of investors that appeared in the form of selling operations that pressured the prices of many shares." He added: "Investors quickly absorbed the negative news, and the indicators consolidated again, and the positivity returned to the market, which contributed to a noticeable rebound in the Abu Dhabi Stock Exchange, and clearly reduced the decline in the Dubai Financial Market."

He continued, "The reaction to the events at the beginning of the session was exaggerated, so we found that the rebound was positive, and to a good degree, especially on the shares that were affected, especially the shares of the banking and real estate sector," noting that the improvement extended to most stocks, which gave reassurance to investors. The overall performance was positive, and the closing was up.

According to the data of the two markets, the Dubai Financial Market closed slightly lower at the level of 3309 points, with transactions worth a total of 234 million dirhams.

The session witnessed an increase in the shares of seven companies out of the 28 companies that were traded, while the shares of 13 companies decreased, and eight remained unchanged.

Deyaar Development's share decreased by 0.4% at 0.47 dirhams, with transactions exceeding 11 million shares, with a value of five million dirhams, while the share of Union Properties decreased by 0.7% at 0.27 dirhams, with transactions exceeding 11 million shares, with a value of three million dirhams.

The Dubai Financial Market share increased by 0.9% at 2.33 dirhams, and transactions exceeded 15 million shares, with a value of 34.5 million dirhams, and the Dubai Islamic share rose by 0.5% at 5.9 dirhams, with transactions of nearly five million shares, with a value of 28.6 million dirhams.

In the Abu Dhabi Securities Exchange, the general index of the market ended the trading session, up 0.6% at the level of 9,103 points, with a total value of 1.6 billion dirhams.

The shares of 24 companies rose out of 51 companies that were traded, while the shares of 20 companies declined, and seven remained unchanged.

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