The local stock markets consolidated their gains during the trading week, after their market capitalization gained more than 86 billion dirhams, in conjunction with the launch of the marathon for the results of listed companies and banks for the first half of this year.
The market capital of the listed shares increased from 2.456 trillion dirhams at the end of last week to 2.551 trillion dirhams at the end of this week, distributed by 2 trillion dirhams for shares listed on the Abu Dhabi Securities Exchange and 549.5 billion dirhams for shares listed on the Dubai Financial Market.
Local shares attracted liquidity during the week of more than 7.14 billion dirhams, distributed by 6.07 billion dirhams in the Abu Dhabi market, and 1.06 billion dirhams in the Dubai market, and more than 1.15 billion shares were traded through the implementation of more than 66 thousand transactions.
Foreign investors pumped about 279 million dirhams into the markets during the week as a purchase outcome, after making purchases worth 1.66 billion dirhams, compared to sales of 1.38 billion dirhams.
Abu Dhabi market
The FTSE Abu Dhabi General Market index rose during the week by 5.14%, or 472.7 points, to close at 3,256.96 points at the end of trading this week, compared to 3160.22 points at the end of last week with the growth of the banking, real estate and communications sectors.
The rise in the Abu Dhabi market was supported by the growth of shares such as “Abu Dhabi Commercial” by 12.2%, “First Abu Dhabi” by 7.42%, “Emirates Group – E &” 7.42%, “Aldar Properties” 5.92%, “ADNOC Drilling” 4.89% and “International Holdings”. 2.88% with topping the activity list after attracting more than 1.6 billion dirhams of liquidity.
Abu Dhabi Islamic Bank’s share rose by 4.59%, with the bank announcing that it achieved a year-on-year growth in net profits by 30% to reach 1.4 billion dirhams during the first half of this year.
Dubai market
The Dubai General Market index rose during the week by 3.06%, or 96.7 points, to jump from the level of 3160.22 points, to close at 3,256.96 points, mainly supported by the gains of the banking, investment, real estate, transportation and communications sectors.
The performance of the Dubai Financial Market was enhanced by the increase in shares such as “Dubai Islamic” by 3.75%, “Emirates NBD” by 3.22%, “Emaar Properties” by 3.9%, “Emaar Development” by 6.6%, and “Dubai Financial Market” by 5.5% and “Dubai” Investments” 5%, “Air Arabia” 2%, and “Aramex” 2.5%.
The share of Emirates Integrated Telecommunications “du” increased by more than 7%, with the company announcing an increase in its net profit in the second quarter of this year by 26.2% to 303 million dirhams, while its board of directors approved the distribution of semi-annual cash dividends of 0.11 dirhams per share.
The Dubai Financial Market witnessed the inclusion of the shares of “Union Cooperative” at the beginning of this week, as the first consumer cooperative in the UAE to take this pioneering step in implementation of the decision of the Council of Ministers regarding trading the shares of cooperative societies in the financial markets in the country, and the shares of “Union Cooperative” rose in the first trading week increased by 2.56%, to close at 4 dirhams, after trading on 14.7 million shares, with a value of 54.4 million dirhams, through executing 1066 transactions.