The "Dubai Financial" index reached its highest level in 4 years, and Abu Dhabi is the highest in its history

«Dubai Financial» to the highest level in 4 years .. and Abu Dhabi is the highest in its history

The "Dubai Financial" index rose yesterday by 1.3% to reach the level of 3,354.64 points.

Ahmed Ardeti's photo

The market value of local shares recorded a jump in the first trading of this week and the last sessions of February, where the shares achieved total gains yesterday, amounting to 32.5 billion dirhams, distributed by 27.82 billion dirhams in the Abu Dhabi Stock Exchange, and 4.64 billion dirhams in the Dubai Financial Market.

The Dubai market index rose to its highest level in more than four years yesterday, while the Abu Dhabi market index reached a new record level, the highest in its history.

Total liquidity amounted to 2.54 billion dirhams, of which 2.04 billion was in Abu Dhabi, while liquidity in the Dubai market amounted to 506 million dirhams.

411.12 million shares were traded, distributed as 258 million in the Abu Dhabi market, and 153.11 million dirhams in Dubai, through 13,608 deals.

In detail, the Dubai Financial Market index rose yesterday by 1.3%, to reach the level of 3,354.64 points, its highest level in more than four years, specifically from December 2017, compared to about 3,312.31 points in Thursday's session.

The real estate sector supported the rise of the Dubai market, as the sector rose by 1.85%.

While the banking sector rose by 1.75%, with the rise of "Emirates NBD" 2.8%, "Dubai Islamic" 1%, and "Dubai Commercial" 1.83%, while the telecommunications sector rose 1.5%, with the rise of the "Emirates Integrated Telecommunications" share. for itself.

The market value of the Dubai market shares was 421 billion dirhams, with daily gains of 4.64 billion dirhams.

On a monthly basis, the Dubai index rose by 4.73%, while the market recorded monthly gains of 13.64 billion dirhams during February.

The Abu Dhabi market gains also amounted to 139.4 billion dirhams, bringing the total to 1.705 trillion dirhams, while the general index increased by 7.1%, and the total market gains during February, for the two markets, reached 153 billion dirhams.

In turn, the Abu Dhabi Stock Exchange index jumped by 2.15%, to record 9,319.4 points, for the first time in its history, compared to about 9123.07 points in Thursday's session.

The market value of Abu Dhabi shares recorded daily gains of 27.82 billion dirhams.

For his part, financial markets expert, Ather Faisal, said that "the leading stocks had the greatest impact on the indices of both markets, as support in the Dubai market came from the real estate sector led by (Emaar), and banks led by (Emirates NBD).

In the Abu Dhabi Securities Exchange, support came from the telecommunications sector and banking, which are the two sectors that influence the index.

Faisal expected that this performance of the market would continue, with the stability of geopolitical variables and their lack of development in the coming hours, stressing that the financial markets reflect the conditions of the national economy that achieve record numbers every day.

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