Abu Dhabi market jumped 3% and "Dubai Financial" 1.5%
2.5 billion dirhams, trading liquidity in the financial markets
Dubai Financial Market ended trading at the level of 3470 points.
Photography: Ahmed Ardeti
Jamal Ajaj: "It is expected that the local stock indices will continue their positive performance during the coming period."
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The local financial markets recorded remarkable increases in the indicators and the level of trading during yesterday's session, where the liquidity that was dealt with in both markets amounted to 2.5 billion dirhams, including one billion and 870 million dirhams in the Abu Dhabi Stock Exchange, and 589 million dirhams in the "Dubai Financial".
The shares of 56 companies listed in the two markets rose, amid the demand for deals on the part of investors.
According to the data of the two markets, the Abu Dhabi Stock Exchange index closed up by 3%, at the level of 9720 points.
Of the 46 companies whose shares were traded, 35 companies rose, seven companies declined, and four remained unchanged.
Dubai market
In the Dubai Financial Market, the general index ended transactions up by 1.5%, at the level of 3,470 points, with a total value of 589 million dirhams.
Shares of 21 companies rose out of 31 companies that were traded, while shares of six companies declined, and four remained unchanged.
"Dewa" share closed at its previous price of 2.7 dirhams, with transactions of nearly 17 million shares, while Emaar Development share increased by 4% to reach 4.97 dirhams, with transactions exceeding 8 million shares.
Union Properties rose by 3% to AED 0.27, with transactions exceeding 11 million shares, while Emirates NBD's share fell by 2.2% to 13.35 dirhams, and transactions approached seven million shares.
Emaar Properties was the most heavily traded stock, up 6.9% at 6.05 dirhams, with more than 44 million shares traded.
strong bounce
The expert in financial markets, Jamal Ajaj, told "Emirates Today", "Yesterday's session witnessed a strong rebound in the beginning of trading, to complement the performance of last week, and it soon turned partially into profit-taking operations, which reduced the heights."
Ajaj added that "last Friday's session, the indicators gave signs of rise, and they continued their course yesterday, as was expected by everyone," noting that "the shares of banks and real estate played a role in the rise, along with a large percentage of the listed shares, which also witnessed an increase."
And he indicated that investors' appetite for trading is good, as evidenced by the number of transactions registered in both markets, where more than 17,000 deals were recorded in the "Abu Dhabi Securities", while the number in the "Dubai Financial" reached more than 10,000 deals.
He added, "The performance of global and Gulf markets also improved, which in turn was reflected in our local markets, so liquidity was strong by about 2.5 billion dirhams in both markets."
He said, "It is expected that the indicators will continue their positive performance during the coming period, if the external influencing factors stabilize, such as inflation and interest data, and others," stressing that "the local economy is strong, and there are no changes or effective current decisions, so the external factors are The most influential on the market at the moment.”
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