Local stock markets consolidated their gains in the first sessions of the week, as their market capitalization gained more than 25 billion dirhams, amid focus on leading sectors and the implementation of major deals, while the Dubai Financial Market recorded the highest pace of gains in more than a month.
The market capitalization of listed shares rose from 3.401 trillion dirhams at the end of last Friday’s session, to 3.426 trillion dirhams at the end of yesterday’s session, distributed by 2.778 trillion dirhams for shares listed on the Abu Dhabi Securities Market, and 648.417 billion dirhams for shares listed on the Dubai Stock Exchange.
Local stocks attracted liquidity of more than 1.55 billion dirhams, distributed by 1.07 billion dirhams in the Abu Dhabi market, and 480.97 million dirhams in the Dubai market, where about 454.87 million shares were traded through the implementation of more than 22.16 thousand transactions. The Dubai Financial Market Index rose by 1.38%, recording the highest pace of gains since the end of the last September 20 session, reaching the level of 3838.76 points, while the Abu Dhabi Market Index rose by 0.52% to the level of 9285.37 points. The strong performance in the Dubai market coincided with the publication by Bloomberg of a report stating that the Dubai Taxi Corporation, affiliated with the Dubai Roads and Transport Authority, is seeking to raise about $300 million by offering a share of its shares next month. As part of the initial public offering, the corporation plans to distribute fourth-quarter profits of no less than 71 million dirhams in April, according to the company’s presentation to investors seen by Bloomberg.
2023-10-30 20:52:10
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