The markets reacted positively to the listed companies' announcement of strong profits

Local shares gain 71.3 billion dirhams in 5 sessions

Banking shares rose in the Dubai Financial Market during last week's trading.

archival

Local shares recorded market gains of more than 71.3 billion dirhams at the end of trading last week, including 62 billion dirhams for the Abu Dhabi Stock Exchange, and 9.3 billion dirhams for the Dubai Financial Market, due to the continued positive interaction of the markets with the announcement of listed companies strong profits in the first half of the year current.

The Abu Dhabi market index rose during the week by 3.6%, or 357.6 points, to close at 10,286.76 points, after it reached during the day before yesterday, the level of 10356.38 points, reaching the highest level in its history.

The rise of the Abu Dhabi market supported the strong gains of the basic materials sector index by 3.34%, the energy sector index by 6.32%, the financial index by 4.98%, the real estate index by 1.82%, and the services sector index by 1.59%.

The share of «ADNOC Distribution» rose by 12.96% after the company announced at the beginning of the week that it had achieved a net profit of 1.56 billion dirhams during the first half of this year, and the share of «International Holding» increased by 6.19%.

Bank shares rose with the rise of "First Abu Dhabi" by 4.7%, "Abu Dhabi Commercial Bank" by 4.29%, "Abu Dhabi Islamic" by 3.03%, and "Sharjah Islamic" by 2.2%.

For its part, the general index of the Dubai market rose during the week by 2.35%, equivalent to 77.9 points, to close at 3395.01 points, recording its highest level since the eighth of last June, supported by the growth of the banking sector index by 2.22%, investment by 5.3% and real estate by 3.4%.

The shares of banks in the Dubai market rose with the increase of «Emirates NBD» by 2.58% and «Dubai Islamic» by 2.59%, and in the investment sector «Dubai Investment» rose by 6.89% and «Dubai Financial Market» increased by 3.53%.

The "Dewa" share increased by 1.6 percent as the authority announced that it had achieved revenues of 12.08 billion dirhams, and a net profit of about 3.3 billion dirhams during the first half of this year.

In addition, the performance of the local stock markets varied at the conclusion of yesterday's session, with profit-taking operations dominating the behavior of dealers in the Abu Dhabi market, as its index declined by 0.6%, and trades with a total value of 1.8 billion dirhams.

As for the Dubai market, its index rose in trading yesterday, by 0.3%, with transactions worth 271 million dirhams.

market capitalization

The market capitalization of shares listed in the local capital markets rose from 2.63 trillion dirhams at the end of the Friday session before last, to 2.703 trillion dirhams at the end of yesterday's session, distributed by 2.136 trillion dirhams for shares listed on the Abu Dhabi Stock Exchange, and 566.8 billion dirhams for listed shares. in the Dubai Financial Market.

Local shares attracted liquidity of more than 9.13 billion dirhams during the week, distributed by 7.58 billion dirhams in the Abu Dhabi market and 1.55 billion dirhams in the Dubai market, and about 2.083 billion shares were traded through the implementation of more than 81.6 thousand transactions.

• The Abu Dhabi market index reached its highest level in its history at the end of last Thursday's session.

• 2.35% increase in the Dubai Financial Market Index within a week.

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