Liquidity levels amounted to 1.7 billion dirhams
54.5 billion dirhams, market gains for local shares
Dubai Financial Market Index closed at the level of 3379 points.
Photography: Ahmed Ardeti
Jamal Ajaj: "The leading stocks such as (Emaar), (Dubai Islamic) and (Salik) have achieved acceptable heights since the beginning of the session.
picture
Local shares achieved market gains during yesterday's session, worth 54.5 billion dirhams, to recover a large part of the declines of the day before yesterday, and the session of the end of last week.
Liquidity levels in both markets also recorded good increases, reaching 1.7 billion dirhams.
The general indices of the two markets rose by more than 1.5% for the Abu Dhabi Securities Market index, and 1.8% for the Dubai Financial Market index.
In detail, the market value of the listed companies at the end of trading yesterday recorded 2.827 trillion dirhams, compared to 2.773 trillion dirhams during the day before yesterday's session.
The expert in financial markets, Jamal Ajaj, said that “yesterday’s transactions were in their entirety positive, especially in (Dubai Financial), whose shares succeeded in compensating a large part of the losses of the past two sessions,” noting that “the leading stocks, such as (Emaar) and ( Dubai Islamic) and (Salik) achieved acceptable increases since the beginning of the session, which affected the rest of the shares and supported the upward trend.
Ajaj added, "In turn, the shares of the Abu Dhabi Securities Exchange rose in the banking and energy sectors, and the sectoral and main indicators helped to rise." or fluctuations in oil prices.
According to market data, the Dubai Financial Market index closed with an increase of 1.8% at the level of 3379 points, with transactions worth a total of 386 million dirhams.
The session witnessed an increase in the shares of 26 companies, out of 35 companies whose shares were traded, while the shares of seven companies declined, and two companies remained stable.
In the Abu Dhabi Securities Exchange, the general index closed up by 1.5% at the level of 9878 points, and transactions with a total value exceeding 1.3 billion dirhams.
Out of the 64 companies whose shares were traded, the shares of 50 companies rose, while the shares of 11 companies declined, and three remained unchanged.
In addition, Abu Dhabi Commercial Bank announced yesterday its intention to study an offer to sell Abu Dhabi Commercial Real Estate Company, and that negotiations are currently underway in this regard.
And the bank stated, in a disclosure on the Abu Dhabi Securities Exchange website, that “in line with the bank’s strategy aimed at focusing on its main banking business, the bank would like to disclose that it is currently evaluating the offer, and negotiations may result in the completion of the sale process, and may not result in any An actual deal,” stressing that he will update the market on the latest developments in the event of any fundamental developments.
He explained that Abu Dhabi Commercial Real Estate Company is a wholly owned subsidiary of Abu Dhabi Commercial Bank, and it manages and supervises a portfolio of more than 2,000 buildings, representing more than 57,000 residential and commercial units in the UAE.
Burjeel Holding's IPO closed
Yesterday, the initial public offering of Burjeel Holding Company, for both retail and professional investors, was closed.
The subscription began last Friday, by offering 11% of its capital, equivalent to 550.73 million shares, distributed over two tranches, one of them for individuals (the first tranche), and 10% of the offering shares were allocated to it, representing 55.07 million shares, compared to 90% for investors. Professionals (second tranche), equivalent to 495.66 million shares.
The price range of the offering shares was set from 2 to 2.45 dirhams per share, which makes the market value of the company at listing ranged between 10 billion dirhams ($ 2.7 billion) and 12.3 billion dirhams ($ 3.3 billion).
Follow our latest local and sports news and the latest political and economic developments via Google news