4.2 billion dirhams, Dubai stock gains in the first sessions of the week
The UAE financial markets managed to achieve strong heights in the first sessions of the week, with the Abu Dhabi market jumping near 9900 points, while the Dubai market rose near the 3350 points level with the support of major stocks.
The performance of local financial markets coincided with the rise of global financial markets and the rise in oil prices.
Foreigners seized the opportunity to buy in the local money markets, with a net of 277.13 million dirhams in both markets, amid the momentum of liquidity exceeding 1.93 billion dirhams.
Strong heights with global support
For his part, Deputy Head of Research and Investment Strategies at Kamco Invest, Raed Diab, said that the UAE markets managed to rise in its first session, coinciding with the rise in global markets and the rise in oil prices.
Diab stressed that the general atmosphere appears to be good with expectations that the economies of the Gulf states will witness growth in 2022 despite the geopolitical situation, as a result of the high levels of oil and the strength of the economies, whose revenues positively affect the budgets of the countries of the region.
He pointed out that in Abu Dhabi, the market is preparing for the public offering of Borouge, which is expected to attract great interest.
Abu Dhabi market
The Abu Dhabi market index continued to rise at the end of today’s trading session, to rise by 2.37% at the level of 9888 points near the level of 9900 points, supported by the rise of major stocks, especially First Abu Dhabi and Aldar Properties, coinciding with the end of the subscription in Borouge shares today.
The value of trading in the Abu Dhabi market amounted to 1.57 billion dirhams, while the trading volume amounted to 213.9 million shares.
The performance of the market came with the rise of First Abu Dhabi share by 4.54% and the rise of Aldar Properties by 5.28%, while Global Holding declined marginally by 0.07%.
The share of Etisalat Group rose by 2.2%, while ADNOC Distribution rose by 1.46%, while ADNOC Drilling rose by 3.92%, while Dana Gas rose by 1.85%, and Taqa rose by 0.79%, as well as Multiplay Group rose by 3.24%, and Eshraq rose by 0.5%.
Global Holding shares topped the shares in terms of trading value, executing about 338.92 million dirhams, followed by First Abu Dhabi with a value of 293.29 million dirhams, then Aldar Properties with a value of 244.57 million dirhams, while Aldar topped the shares in terms of trading volumes by 48.19 million shares.
The “ADC” share rose in its first trading in the Abu Dhabi market by 4.2%, at the level of 11.4 dirhams.
With regard to banking shares, Abu Dhabi Islamic rose by 2.34%, while Abu Dhabi Commercial rose by 4.63%.
EDC bills topped the Abu Dhabi market’s gains by 145.33%, followed by Abu Dhabi National Takaful by 14.87%, while Ras Al Khaimah Cement topped the decliners’ shares by 5.5%.
Foreigners tended to buy in the Abu Dhabi market with a net of 168.47 million dirhams, while Arabs and Emiratis tended to sell with a net of 12.58 million dirhams and 169.33 million dirhams, and Gulf Arabs tended to buy with a net of 13.43 million dirhams.
At the conclusion of today’s session, the market value of the Abu Dhabi market recorded about 1.9417 trillion dirhams, compared to a value of about 1.9125 trillion dirhams, an increase of 29.2 billion dirhams.
Dubai market
The Dubai Financial Market index jumped at the end of today’s session by 1.46% at the level of 3,345 points, supported by the rise of 24 stocks.
The value of trading on the Dubai Financial Market during today’s trading amounted to 363.78 million dirhams, with a trading volume of 116.87 million shares, through 6.38 thousand deals.
The performance of the market came in conjunction with the increase in the banking sector index by 1.83%, while the real estate sector rose by 1.73%, and the investment sector index rose by 1.8%.
With regard to real estate shares in the Dubai market, Emaar Properties rose by 2.01%, while Deyaar Development rose by 0.98% and Emaar Development rose by 1.12%.
The performance of the banking sector coincided with the increase of Dubai Islamic by 1.69%, while Emirates NBD rose by 2.69%.
The performance of the market coincided with the rise of the Dubai market share by 2.79%, while Dubai Investments rose by 1.34%, and the safety share rose by 1.98%.
Dewa’s share bucked the dominant upward trend on the Dubai market shares, declining by 1.16%, topping the trading volumes.
Al-Firdaws share topped the rising shares in the Dubai market by 14.97%, while Dar Al-Takaful share led the falling shares by 3.81%.
Emaar shares topped the shares in terms of trading value through 88.8 million dirhams, followed by Emirates NBD share about 73.16 million shares, while Dewa shares topped the shares in terms of trading volumes through 16.46 million shares.
During today’s trading, 24 stocks rose, while 5 stocks declined.
Foreigners tended to buy in Dubai with a net of 108.66 million dirhams, and Gulf and Arabs tended to buy with a net of 32.82 million dirhams and 26.6 million dirhams, respectively, while Emiratis tended to sell with a net of 168.13 million dirhams.
The market value of the Dubai Financial Market at the end of the day recorded 549.067 billion dirhams, compared to a value of 544.818 billion dirhams at the end of the last session, to gain 4.2 billion dirhams.