on September 17, 2022 | Time 10:13 am
Written by: Maha Ahmed
The general index rose by 0.8% in the Friday session, recording its highest closing in 4 months, with a liquidity that exceeded 500 million dirhams. The index also jumped by about 4% during the week, recording the highest weekly gains in 7 months. In a week amid anticipation of the company’s general assembly next week to approve the increase in the percentage of foreign ownership.
The shares of the Dubai Stock Exchange recorded weekly increases of about 3%, supported by the start of the public offering of Salik, and “Salik” had decided to raise the percentage of the offering from 20% to 24.9% of its capital due to the strong demand from investors.
Abu Dhabi Financial Market:
The FTSE Abu Dhabi index added more than 400 points during the week, marking the second consecutive week of gains and its highest close in a month.
The support came from Multiplay’s acquisition of a share of TAQA, which led to historic increases for both shares during the week,
The last session of the week witnessed exceptional liquidity for the Abu Dhabi market, which exceeded 3 billion dirhams, in conjunction with the implementation of the semi-annual review of the FTSE index.
FTSE had decided to include both the shares of IBEX Investment and Q Holdings to the list of medium-sized companies, which led to the entry of large foreign liquidity on both shares at the closing of the Friday session.
Saudi Market:
The Saudi market index turned red before closing with the entry of selling liquidity that amounted to more than 7 billion riyals, in conjunction with the implementation of the semi-annual review of the FTSE indices.
Al-Rajhi Bank, Al-Ahly Bank and Aramco shares fell by 1%, 1.5% and 1.3%, respectively, to close the index, down 0.5% to its lowest level in about two months, recording the fourth consecutive weekly decline.
The last session of the week witnessed the implementation of the semi-annual review of the FTSE indices, which included the addition of Alam’s stock to the list of medium-sized companies, in addition to the downgrading of Mobily’s stock from the list of large to medium-sized companies.
Egypt Stock Exchange:
The thirtieth index lost 10100 points, retreating for the third consecutive session, to lose most of the gains it achieved in the current month of September, and to record weekly losses of 1.8%.
The seventy index also declined for the second consecutive session, but managed to consolidate above 2260 points at the close.
Domty’s share fell by 4% to levels of 5.18 pounds, despite the company’s announcement that the Expedition Investments consortium had acquired a 33% share of Domty at a price of 5.5 pounds per share.
Gulf markets Other:
The Dubai Financial Market index rebounded to the green, rising by 0.9%, recording its highest close since the beginning of this month.
The FTSE Abu Dhabi index also rose 0.5% to regain the levels of 10,000 points, and recorded the highest closing in 3 weeks, with continued support from Multiplay’s acquisition of a stake in the Emirati TAQA company.
The first Kuwaiti index managed to achieve weekly gains by 0.7%, after two consecutive weeks of decline, amid exceptional liquidity that exceeded 80 million dinars in Thursday’s session.
In the Qatar Stock Exchange, the general index recorded weekly gains of more than 2% after 3 consecutive weeks of decline, and liquidity exceeded the levels of 1.4 billion riyals in the last session of the week in conjunction with the application of the FTSE review.