Local stocks attract liquidity of 1.82 billion dirhams

At the end of yesterday’s trading, local stock markets attracted liquidity of about 1.82 billion dirhams, at a time when the market capitalization of the Dubai Financial Market gained more than 2.53 billion dirhams, surpassing the highest levels in more than 10 year at 4,600 points, supported by gains in key stocks in both “Real Estate” and “banks” sectors.

Liquidity was distributed at 1.25 billion dirhams on the Abu Dhabi Securities Market, and 566.88 million dirhams on the Dubai Financial Market, after trading 619.69 million shares, through the implementation of more than 35.73 thousand transactions.

The Dubai Financial Market General Index rose 0.46%, or equal to 21.16 points, to close at 4604.52 points, surpassing the highest level since November 2014, while the Market Index recorded General Abu Dhabi (FADGI) increased by 0.16% on the level of 9327.54 points.

The performance of the Dubai Financial Market strengthened with the stock “SALIC” rising 6.8%, while the stock “Emaar Properties” led the activity, attracting more than 143.6 million dirhams in liquidity, followed by the stock “Emirates NBD” at around 65.99 million dirhams.

On the Abu Dhabi Securities Market, the stock “International Capture” was at the top of the activity, attracting a liquidity of more than 203.05 million dirhams, followed by the stock “Aldar Properties” at around 139.7 million dirhams.

Financial adviser, Mahmoud Atta, said: “One of the main reasons for the rise of the Dubai Financial Market Index is that most of the listed companies that make up the index achieved good profits in the first nine months of this year.”

He pointed out that one of the main factors that allowed Dubai Financial to achieve higher growth, and achieve the historic gains since the beginning of the year, is the high levels of confidence in trading systems, and the development that taking place now. in them, due to the increase in strong initial contributions, amid the growing strength of the local economy, and the expected growth in… In the next five years, despite challenges global economy.

He confirmed that the current economic legislation, especially those aimed at local financial markets, would contribute to an increase in institutional investment, especially foreign, while at the same time increasing the relative weights of local stocks on portfolios -target emerging market.