The Dubai Financial Market consolidates its gains with achieving the highest liquidity in more than two months

2023-05-03 13:31:35

The Dubai Financial Market consolidated its gains at the end of yesterday’s trading, and its market capitalization gained more than 765 million dirhams, after recording the largest trading liquidity rate since last February, that is, in more than two months, coinciding with the announcement of the listed companies’ results for the first quarter of this year.

The market capital of the Dubai Financial Market rose from 624.8 billion dirhams in the day before yesterday’s session to 625.62 billion dirhams, while the market capital of the Abu Dhabi Securities Market reached about 2.774 trillion dirhams.

The Dubai General Market Index rose slightly by 0.062%, or the equivalent of 2.21 points, to close at the level of 3,577.77 points, achieving its highest level since the end of the session of May 2, 2022, that is, in almost a year.

The FTSE index closed the Abu Dhabi General Market “Fadji” at the level of 9645 points, and local stocks attracted liquidity of about 2.256 billion dirhams, distributed by 1.197 billion dirhams in the Abu Dhabi market and 1.059 billion dirhams in the Dubai market, while about 1.38 billion shares were traded through the implementation of More than 26.36 thousand deals.

The Dubai market performed well, with shares of “Deyaar Development” rising 5.9%, reaching a price of 0.647 dirhams, the highest price since April 2022, and “SHUAA Capital” 4.62% and “Tecom” group 3.7%, after its net profit increased by 34% at the end of the first quarter of this year. And “Du” shares increased 2.2%, “Dubai Financial Market” 1.32%, and “Amlak Finance” 2%, after announcing its intention to negotiate an exit from the agreement.
The Common Restructuring Terms entered into in 2014 and subsequently amended in 2016 and 2020. While “Dubai Islamic” shares fell 0.36%, and “Emaar Properties” fell 0.17%.
And “Deyaar Development” acquired the largest share of the total trading, attracting about 134.5 million dirhams, followed by the share of “Dubai Financial Market” by about 71.4 million dirhams.
In the Abu Dhabi market, “ADNOC Gas” fell 0.3%, while “Emirates Steel Arkan” rose 4.1%, “Ras Al Khaimah Real Estate” 1.3% and “Manzels” 2.6%, and “Ishraq Investment” led the activity, attracting liquidity of more than 117 million dirhams, to close up. By 3.3%, at the level of 0.54 dirhams.