“Banking” shares lead the rise in the Dubai market

The Dubai Financial Market index rose by 0.60%, or the equivalent of 23.75 points, yesterday, recording 3984.52 points, which is the highest level in 7 sessions, specifically since the session of November 7, making the market gain 3.2 billion dirhams, with the support of leading stocks.

The market capitalization of Dubai’s listed shares rose from 668.7 billion dirhams at the end of yesterday’s session to 671.9 billion dirhams at the end of yesterday’s session.

Emirates Reem Investment and Union Properties led the rise of 20 stocks on the Dubai Financial Market, rising 2.8% and 2.2%, respectively.

The performance of the Dubai market was strengthened, with shares of “Commercial Dubai” rising by 1.9%, “Mashreq Bank” by 1.9%, “Dubai Investments” by 1.7%, “Ajman Bank” by 1.4%, “Emaar Properties” by 1.1%, and “Emirates Dubai”. National Bank, 0.84%, and Dubai Islamic, 0.36%.

“Emaar Properties” stock acquired liquidity exceeding 95.5 million dirhams, followed by “Emirates NBD” with liquidity of 52.7 million dirhams, then “Ajman Bank” attracting 51.1 million dirhams.

Non-Arab foreign investors tended to buy in the Dubai market with a net investment of 59.76 million dirhams in yesterday’s session, after achieving purchases worth 153.45 million dirhams, compared to sales of about 93.7 million dirhams.

Abu Dhabi Market

Yesterday, the FTSE Abu Dhabi General Market Index (FADGI) rose by 0.43% to the level of 9607.09 points, giving the market a profit of two billion dirhams.

“International Holding” led the activity in the Abu Dhabi market, with the largest share of total trading at 236 million dirhams, followed by “Alpha Dhabi Holding,” attracting 96.2 million dirhams, then “Multiplay” with liquidity of 93.7 million dirhams, closing at 3.59 dirhams.

The performance of the Abu Dhabi market during yesterday’s session was supported by the rise in the shares of “Gulf Investment Company” by 12.6%, “Sudatel Telecommunications” by 6.4%, “Hayat Insurance” by 2.4%, “Marine Dredging” by 2.3%, and “Abu Dhabi Islamic Bank” by 1.5%. “Alpha Dhabi” 0.84%, “First Abu Dhabi” 0.74%, and “International Holding” 0.5%.

Gains and liquidity

Local stock markets achieved gains of more than 5.2 billion dirhams in yesterday’s trading, supported by intense purchasing operations on leading stocks in the Dubai and Abu Dhabi markets.

The market capitalization of listed stocks rose from 3.547 trillion dirhams at the end of the day before yesterday to 3.552 trillion dirhams at the end of yesterday’s session, distributed by 2.880 trillion dirhams for stocks listed on the Abu Dhabi Securities Market and 671.9 billion dirhams for stocks listed on the Dubai Financial Market.

The shares attracted liquidity of more than 1.35 billion dirhams, distributed by 1.02 billion dirhams in the Abu Dhabi market, and 328.56 million dirhams in the Dubai market.