Backed by blue-chip stocks and increased demand

31.6 billion dirhams of stock gains in the first session of August

Dubai Financial Market closed up by 1.2% at 3377 points.

Cinematography: Mostafa Qassemi

The local stock markets recorded strong increases of more than 1% during yesterday's session, the first of August sessions, supported by strong gains for the leading stocks, and increased demand from international investors amid expectations that the listed companies will complete the announcement of good business results.

The market value of local shares jumped during the same session, as shares achieved gains of 31.6 billion dirhams, distributed by 27 billion dirhams in the Abu Dhabi Stock Exchange, and 4.65 billion dirhams in the Dubai Financial Market.

The markets attracted more than 1.52 billion dirhams of liquidity, distributed by 1.25 billion dirhams in the Abu Dhabi market, and 260.78 million dirhams in the Dubai market, and 359.46 million shares were traded, including 182.52 million shares in the Abu Dhabi market, and 176.94 million shares in the Dubai market. They were executed through 14,679 transactions.

The Dubai Financial Market closed yesterday, up by 1.2% at the level of 3377 points, with Emaar Properties rising 0.54%, Emirates NBD 2.17%, Dubai Islamic 0.85%, Air Arabia 4.5%, Dubai Financial Company 2.33%, and Deyaar Real Estate Development 4.6%.

And topping the list of the most heavily traded shares was «Union Properties» share, which increased by 12% to 0.277 dirhams, with a transaction of nearly 44 million shares.

The Abu Dhabi Securities Exchange index closed, up by 1.3%, at 9774 points, with the “First Abu Dhabi” share increasing by 0.4%, and the “ADNOC Drilling” share increasing by 2%, while the “Aldar Properties” share decreased by 0.2%, and the “Adnoc Drilling” share decreased by 0.2%. ADNOC Distribution” by 1.2%.

Shares of «Multiplay» were the most actively traded shares in the market, increasing by 1.1% to 1.80 dirhams, with a turnover of more than 34 million shares.

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