2023-09-01 22:08:29
The performance of the Dubai Financial Market index during the first 8 months of this year outperformed two indices on the American “Wall Street” stock exchange, as the Standard & Poor’s “S&P” index rose by 17%, while the “Dow Jones” index rose 4.7%, while the “Dow Jones” index jumped 4.7%. Nasdaq by about 35%.
The monitoring of the “statement” showed that the Dubai market index rose 22.4% or 746.8 points in 8 months, jumping from the level of 3336.07 points at the end of last year to 4082.87 points in the last sessions of last August.
The Dubai market achieved the best performance at the level of the Gulf stock exchanges, the first 8 months, supported by strong gains for shares, increased demand on the part of international investors, and strong results for companies and banks.
The Dubai market contradicted the trend of the indices of the Gulf markets, most of which witnessed a decline in performance in the first eight months, as the Kuwait Stock Exchange fell 5.2%, the Qatar Stock Exchange 4.5%, the Abu Dhabi Market 3.9%, and the Muscat Stock Exchange 1.2%. On the other hand, the Saudi “TASI” index rose 9.7%. , and the Bahrain Stock Exchange 3%.
And the performance of the Dubai market was strengthened from the beginning of this year until the end of August, with the rise of Gulf Navigation shares 648%, Ajman Bank 126%, Emirates NBD Bank 25.7%, Emaar Properties 20%, DEWA 11.5%, Emaar Development 53.5%, Tecom 18.5%, Air Arabia 40%, and Salik 43.5%. And Dubai Investments 15.5% and Empower 43%. Emaar Properties acquired the largest share of trading, attracting liquidity of about 13.8 billion dirhams, Emirates NBD attracting 6.25 billion dirhams, Ajman Bank attracting 5.14 billion dirhams, and Dubai Islamic 4.8 billion dirhams.
demand growth
Local stock markets added about 335 billion dirhams to their market capital during the first eight months, supported by increased demand from institutions and investment portfolios, in addition to new listings. The market capital of listed shares rose from 3.205 trillion dirhams at the end of last year to 3.54 trillion in the last sessions of last August, of which 2.855 trillion dirhams were for shares listed in the Abu Dhabi market and 685.3 billion dirhams for shares in the Dubai market.
The UAE stock markets recorded strong liquidity in the first eight months of 2023, at about 290.4 billion dirhams, distributed by 222.2 billion dirhams in the Abu Dhabi Stock Exchange and 68.1 billion dirhams in the Dubai market, while about 80.4 billion shares were traded, of which 40.5 billion shares were in the market. Abu Dhabi and 39.9 billion shares in the Dubai market, through the execution of more than 3.6 million transactions in the two markets.
intensive operations
On the weekly level, local stocks achieved gains of nearly 6.5 billion dirhams in 5 sessions, supported by intensive purchasing operations on the leading stocks.
The market capital of listed shares rose from 3.534 trillion dirhams at the end of the Friday session before last, to 3.540 trillion dirhams at the end of yesterday’s session. Local stocks attracted a liquidity of 6.7 billion dirhams last week, of which 5 billion dirhams were in the Abu Dhabi market, and 1.74 billion dirhams in the Dubai market, after trading 1.67 billion shares, through the implementation of 97.6 thousand deals.
Dubai market
During the week, shares of Dubai National Insurance rose 3%, Emaar Properties 2.6%, Emaar Development 1.8%, Empower 1.5%, Amanat Holdings 1%, Dewa increased 0.7%, Tabreed 0.5%, Gulf Navigation 0.43% and Salik 0.33%. And “Emirates NBD” acquired the largest share of the liquidity of the Dubai market during the week, at about 355.3 million dirhams, followed by “Emaar Properties”, with a liquidity of 341.3 million dirhams, then “Ajman Bank”, which attracted 169.2 million dirhams.
Abu Dhabi market
The FTSE Abu Dhabi General Market Index, “Fadji”, closed at 9,786.63 points, up by 0.22% in a week.
Al Alamiah Holding topped the activity in the Abu Dhabi market, with its acquisition of the largest share of the total trading volume, with a liquidity of 1.09 billion dirhams in a week, followed by “Multiplay”, attracting 593.3 million dirhams, then “Alpha Abu Dhabi Holding” with a liquidity of 569.7 million dirhams.
It rose in the Abu Dhabi market in the week of IDC Corporation shares by 21.8%, Oman and Emirates Investment by 15.5%, Rabco Investment by 7.8%, National Bank of Umm Al Quwain by 5% and marine dredging by 4.6%. Global Holding increased 1.6%, Americana Restaurants 4.5%, Al Seer Equipment 2.4%, Easy Lace 4.1%, Sharjah Islamic 2.5%, Palms Sports 1.9%, Abu Dhabi National Building Materials 2.6% and the National Bank of Ras Al-Khaimah 3.5%.
daily performance
On the daily level, the Dubai Financial Market index rose 0.18% at 4090 points yesterday, while the Abu Dhabi Securities Market index fell 0.24% to 9786.63 points.
And the shares of “Emaar Properties” and “Emirates NBD” continued to lead the Dubai Financial Market trading, recording a liquidity of 59.2 million dirhams at the end of yesterday’s session, and the two shares closed at 7.08 and 16.7 dirhams, respectively. At the end of the session, Emirates NBD shares rose 2.1%, Al Salam Bank – Bahrain 1.7%, Union Properties 1.5%, DEWA 1.2%, and Amlak Finance 1%. In the Abu Dhabi market, ADC Corporation shares rose 14.6%, Fujairah Cement 5.1%, Abu Dhabi National Building Materials 3.7%, Multiple 3.7%, and Q Holding 1.3%.
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