Yousef Al Bustanji (Abu Dhabi)
The UAE financial markets continued to attract high liquidity for trading, with a value of 2.27 billion dirhams during yesterday’s trading session in the Abu Dhabi and Dubai markets.
Trading focused on the financial and real estate sectors in the two markets, and the leading companies acquired the largest share of the trading value.
The trading session witnessed an uneven closure of the local financial markets, as the capital market Abu Dhabi closed in the “red” region at the level of 9994.7 points, a decline of 0.849%, due to pressure from profit-taking operations on the shares of “First Abu Dhabi” and “Etisalat”.
The total trading value in the Abu Dhabi market amounted to 1.818 billion dirhams, distributed over 11474 transactions, and the outcome of trading was a decrease in the market value to 1.87 trillion dirhams.
The share of International Holding acquired 331 million dirhams of trade, and the stock closed at the level of 188.3 dirhams, an increase of 0.11%. The value of trading on the share of Aldar Properties was about 321 million dirhams, which closed at 4.88 dirhams, an increase of 0.83%.
Abu Dhabi Commercial Bank’s share also rose during the trading session by 1.34% to close at 10.6 dirhams. On the other hand, the market price of Etisalat’s share decreased by 3.58% to close at 37.22 dirhams, and the first Abu Dhabi Bank share price decreased by 0.25% to close at 23.88 dirhams.
The Abu Dhabi market witnessed a net sale of foreigners with a value of 51 million dirhams, and sales operations were concentrated by Gulf investors, whose trading recorded a net sale of 50.5 million dirhams.
In the Dubai Financial Market, the trading value amounted to 441 million dirhams, which were implemented through 4256 deals, and the market closed in the “green” region, up 0.44% at the level of 3515.34 points.
The Dubai Financial Market was supported by the share of Emaar Properties, which rose by 1.88% to the level of 5.94 dirhams, as well as from the share of Dubai Islamic Bank, which rose 0.99% to the price of 6.09 dirhams.
And the Dubai Financial Market share increased by 2.19% to reach the level of 2.79 dirhams.
On the other hand, Emirates NBD Bank’s share closed down by 1.01% at the closing level of 14.65 dirhams.
With regard to foreign investment in the Dubai Financial Market, the value of foreign, non-Arab, stock purchases amounted to about 101.9 million dirhams, while the value of their sales amounted to about 95.2 million dirhams.
The value of purchases by non-Gulf Arab investors amounted to about 28.9 million dirhams, and the value of their sales amounted to about 28.8 million dirhams.
As for Gulf investors, the value of their purchases amounted to 30.3 million dirhams, while the value of their sales amounted to 23.2 million dirhams during the same period. As a result of these developments, the total value of foreign, non-Emiratis, purchases of shares amounted to about 161.1 million dirhams, constituting 36.555% of the total value of purchases, while the total value of their sales amounted to 147.3 million dirhams, representing 33.428% of the total value of purchases. The value of sales, bringing the net foreign investment to about 13.78 dirhams as a purchase proceeds.