Dubai: Anwar Daoud
General stock indices in the UAE markets varied during the week, with the Dubai Financial Market index rising 1.26%, supported by “real estate” and “banks”, while the Abu Dhabi Securities Exchange index declined marginally during the week, with (Fadax 15) down 0.13% and “FTSE”. Abu Dhabi General» 0.04%, affected by the decline of «telecommunications».
The markets attracted a weekly liquidity of more than 8 billion dirhams, and the traded quantities of shares amounted to about 1.8 billion shares, executed by investors through 79,500 deals, as the Dubai market witnessed 1.88 billion dirhams, with a circulation of 821.3 million shares, while the Abu Dhabi market witnessed 6.16 billion dirhams, with a circulation of 976.3 million shares.
The shares of “Emaar Properties” acquired half of the liquidity of the Dubai Financial Market by about 906 million dirhams, and “International Holding” acquired 24% of the liquidity of the Abu Dhabi market, equivalent to 1.5 billion dirhams.
Trading data showed that institutions and investment portfolios tended to buy, with a total of 217 million dirhams, of which 201 million dirhams were in Dubai, and foreign investment tended to buy, with a total of 396 million dirhams.
Dubai market
The Dubai Financial Market index achieved weekly gains for the third time in a row, after recording an increase of 1.26%, adding 43.17 points of gains, to close at 3,462.89 points, supported by the strong rise of the real estate, investment and commodity sectors, in addition to the improvement of the banking sector.
The general index of the market headed to the upside, starting from the third session of the week, to conclude its performance at the highest level in 3 months, in light of the stability of the index in the Friday session without change.
This came with the support of the positive performance of Emaar Properties, which was the star of the week, after the company announced the discussion of canceling the maximum foreign ownership limit, which pushed the company’s shares to rise 3.2% to 6.1 dirhams, after it reduced its weekly gains, with its decline in a session Friday, 1.77%, and the share attracted a weekly liquidity of 906 million dirhams, while the “Emaar Development” share increased by 5.2% to 4.87 dirhams, with a turnover of 162 million, “Tecom” rose 1.2%, and “Union Properties” 5.34%.
Investment shares recorded varying heights, as the “Dubai Financial Market” share gained 1.11%, and closed at 1.82 dirhams, and “Dubai Investment” 1.65% to 2.47 dirhams, while “Shuaa” fell 1.22%, and the “Ektib Holding” share rose. By 35.8% in a week.
«Emirates NBD» rose 0.37% to 13.7 dirhams, but the «Dubai Islamic» share recorded a greater increase, which amounted to 1.02% to 5.96 dirhams, which constituted support for the market, and «GFH» share rose 4.5% to 1.16 dirhams. The share of “Takaful House” rose alone in the insurance sector, by 1.39%, and “Salama” decreased by 3.16%, and “Dubai National Insurance” 9.9%, and “Aman” 2.7%.
In the transportation sector, “Aramex” rose 2.6%, and “Gulf Navigation” 1%, while “Air Arabia” declined 1.3%. The share of «Emirates Refreshments» jumped 20.3% to 5.61 dirhams, with a circulation of 121.5 million dirhams, while «Union Cooperative» decreased by 4.94%. “Dewa” shares rose 0.78% to 2.6 dirhams, and “Amanat” 3.4%.
Abu Dhabi market
The Abu Dhabi Securities Exchange recorded a slight decline during the week, with (Fadax 15) down 0.13% to reach 10097.5 points, while the FTSE Abu Dhabi General decreased marginally by 0.04%. The market was affected by the decline of «E&» share in the telecom sector, by 3.05% to 26.08 dirhams, with a turnover of 241 million, compared to the increase of «Yahsat» share 0.75% to 2.69 dirhams.
“International Holding” decreased 0.58% to 341 dirhams, with a turnover of 1.49 billion dirhams, and “Abu Dhabi Commercial” 2.12% to 9.25 dirhams, and “First Abu Dhabi” contributed to reducing the impact of the declines, after it rose 2.33% to 20.2 dirhams, and “Multiplay” 4.4 %, and “Sharjah Islamic” 5.3%.
“Aldar Properties” rose 3.73% to 5 dirhams, with a turnover of 281 million, and “Ras Al Khaimah Real Estate” rose 6.34% to 0.788 dirhams, and “Eshraq Investments” 0.5% to 0.601 dirhams. The share of the private company «Q Holdings» increased by 12% to 3.98 dirhams, with a circulation of 339.4 million dirhams in a week.
The share of «Alpha Abu Dhabi Holding» improved 0.17% to close at 24.18 dirhams, with a trade of 496.1 million dirhams, while «Abu Dhabi Shipbuilding» increased 11.5%, «Baldco» 9.88%, and «Ibex» 4%, while «Marine Dredging» 15.88 %, and “Abu Dhabi Ports” 0.98%. “ADNOC Distribution” shares rose 1.74% to 4.69 dirhams, “ADNOC Drilling” 0.8%, and “Dana Gas” 0.8%.
nationalities
Non-Arab foreign investors increased their holdings of shares during the week, after they recorded a purchase proceeds of 395.9 million dirhams, distributed between 171.2 million dirhams in the Abu Dhabi market, and 224.66 million dirhams in the Dubai market. The Arabs also recorded a purchase outcome of 33 million dirhams in the Abu Dhabi market, compared to a sale proceeds in the Dubai market of 9.8 million dirhams, and the Gulf people recorded a purchase outcome of about 14.5 million dirhams in the two markets. On the other hand, citizen investors tended to sell, recording a sale proceeds of 433.65 million dirhams, distributed between 216.3 million dirhams in Abu Dhabi and 217.3 million dirhams in Dubai.
Institutions
Within a week, investment institutions recorded a strong purchase outcome in the Dubai Financial Market, with a value of 201.3 million dirhams, as a result of purchases worth 1.14 billion dirhams, and sales of 941.1 million dirhams. The total purchase of institutions in the Abu Dhabi market amounted to about 16.2 million dirhams, as a result of purchases worth 5.18 billion dirhams, and sales of 5.16 billion dirhams.