The Dubai Financial Market index jumped by 2% in a week, and the market achieved gains of about 10.8 billion dirhams in 5 sessions, supported by the announcement of Emirates NBD and Dubai Islamic banks of historic profits and record dividends for the year 2023.
The market capitalization of Dubai’s listed shares rose from 699.5 billion dirhams at the end of the session on Friday before last, reaching 710.3 billion dirhams at the end of yesterday’s session.
In a week, shares of “Takaful Emarat” rose 31.2%, “International Financial Consulting” 14.5%, Mashreq Bank 12%, “Wataniya International” 8%, “Dubai Islamic” 7.76%, and “ZAD PHM Capital.” 7.4%, “Du” 5.2%, “Aman” 4.7%, “Emaar Development” 4.4%, “Amlak Finance” 4.2%, and “Emirates NBD” 3.7%.
“Emirates NBD” accounted for the largest share of the Dubai market’s liquidity during the week, exceeding 467.9 million dirhams, followed by “Dubai Islamic” with a liquidity of 443.7 million dirhams, then “Emaar Properties” attracting 316.15 million dirhams.
Foreign investment
Non-Arab foreign investors tended to buy in the Dubai market with a net investment of 196.8 million dirhams in 5 sessions, after achieving purchases worth 786.2 million dirhams, compared to sales of about 589.4 million dirhams.
Abu Dhabi Market
The FTSE Abu Dhabi General Market Index, “Fadji,” closed at 9,567.68 points, declining by 1.49% in 5 sessions. “International Holding” topped the activity in the Abu Dhabi market with the largest share of total trading with a liquidity of 1.01 billion dirhams in a week, followed by “Alpha Dhabi Holding” attracting 410.25 million dirhams, then “Multiplay” with a liquidity of 380.8 million dirhams.
Shares of the National Investor Company rose by 27.6% in the Abu Dhabi market during the week, Al Wathba National Insurance by 13%, National Bank of Ras Al Khaimah by 9.3%, Insurance House by 6.3%, Easy Lease by 4.4%, BHM Capital increased by 3.2%, Emirates Insurance by 2.9%, and National Tourism. Hotels 2.6%, Abu Dhabi National Insurance 1.8%, and E7 1.44%.
liquidity
Local stocks attracted liquidity during the week of approximately 7.23 billion dirhams, distributed by 5 billion dirhams in the Abu Dhabi market, and 2.2 billion dirhams in the Dubai market, after trading more than 1.7 billion shares, through the implementation of more than 115.5 thousand transactions.
Daily performance
Regarding daily performance, the Dubai Financial Market Index closed at 4163.33 points, down 0.24%, in yesterday’s session. Aramex shares led the rise of 14 stocks on the Dubai Financial Market, rising 1.9%, while Shuaa Capital shares rose 1.4%, TECOM 1.1%, and Ithmaar Holding 0.95%.
Yesterday, the FTSE Abu Dhabi General Market Index (FADGI) closed at 9,567.68 points, declining by 0.61%. Among the winning stocks in the Abu Dhabi market during yesterday’s session were Insurance House shares, up 6.3%, Easy Lease, 5.75%, National Tourism and Hotels, 4.1%, and United Arab Bank, 4%.
2024-01-26 22:04:07
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