Muhammad Shaker – Mubasher: The performance of UAE financial market indices varied at the close of trading on Thursday, with the Dubai Financial Market declining, while the Abu Dhabi Securities Market rose, amid expectations of a reduction in US interest rates in 2024.
According to data from the UAE financial markets, the Dubai Financial Market incurred losses amounting to 1.818 billion dirhams, and the Dubai and Abu Dhabi stock exchanges attracted liquidity amounting to 5.708 billion dirhams, distributed over 18,583 thousand transactions.
At the end of today’s trading, the Dubai Financial Market index declined by 0.22 percent to the level of 4005 points, amid transactions of 54.458 million shares worth 154.312 million dirhams.
This came amid a decline in Al Salam Bank shares by 1.04 percent, Union Properties by 0.71 percent, Shuaa Capital by 3.22 percent, and Emirates NBD Bank by 1.74 percent.
The market value of Dubai shares reached 674.745 billion dirhams at the close of trading today, compared to 676.563 billion dirhams at the close of trading on Wednesday, with losses amounting to 1.818 billion dirhams.
On the other hand, the Abu Dhabi Securities Market index rose by 0.12 percent to the level of 9494 points, amid transactions of 181.826 million shares worth 5.554 billion dirhams.
This came amid a rise in shares of Abu Dhabi Commercial Bank by 0.58 percent, ADNOC Logistics by 1.13 percent, ADNOC Drilling by 0.28 percent, and First Abu Dhabi Bank by 0.59 percent.
The market value of Abu Dhabi shares reached 2.836 trillion dirhams at the close of today’s trading, compared to 2.841 trillion dirhams at the close of Wednesday’s trading, with losses amounting to 5 billion dirhams.
Today, Thursday, the Abu Dhabi Securities Market witnessed the execution of large transactions on Al-Alamiah Holding shares worth 4.458 billion dirhams.
According to market data, 44 transactions were executed on 11.159 million shares of Al-Alamiah Holding shares, representing 0.5 percent of the company’s shares.
The performance of UAE financial market indices varied during the period from January to December 15, 2023, with the Dubai Financial Market rising while the Abu Dhabi Securities Market declined, amid the monetary tightening cycle by the Federal Reserve and the escalation of geopolitical events in the Middle East.
Net foreign investments in stocks in the UAE financial markets during the period from January to December 15, 2023 amounted to 1.431 billion dirhams ($389.884 million) as a result of the sale.
According to data from the UAE financial markets, foreign investors carried out purchasing operations in Dubai and Abu Dhabi shares worth 115.766 billion dirhams, compared to sales amounting to 117.197 billion dirhams, with a net sale of 1.431 billion dirhams.
The performance of the UAE financial markets varied at the end of the first ten months of this year (the period extending from January to October 2023), with the Dubai Financial Market rising, while the Abu Dhabi Securities Market declined, coinciding with the continued escalation of the geopolitical situation in the Middle East region.
The net investments of foreigners in stocks in the UAE financial markets during the first 10 months of this year (the period extending from January to October 2023) amounted to 2.229 billion dirhams ($607.167 million) as a result of the sale.
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2023-12-21 12:52:59
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