Hanan Ramses, an expert on financial markets, said that Arab markets reacted positively in the first week of April, responding to the high growth rates, attracting new foreign investment, huge government proposals, and the realization of 2030 visions for these countries in the field of investment, production and diversification of profit-producing sectors.
Hanan Ramses, an expert on financial markets, reviewed the performance of the Arab stock exchanges last week:
Saudi Stock Exchange
The Saudi stock market, “Tadawul”, saw a positive performance during the week, continuing its gains for the fourth consecutive week, in light of the rise of 3 major sectors, amid improved liquidity, compared to the previous week.
The general index of the market “TASI” recorded an increase of 1.71% during the week ended April 7, 2022, with gains amounting to 223.58 points, which rose to the level of 13,313.98 points.
Market capitalization rose 36.58 billion riyals during the week, bringing the market value of shares listed on “Tadawul” to about 12 trillion riyals, compared to 11.963 trillion riyals, at the end of last week.
The parallel market performed negatively during the week, as the (Bolimite growth) index fell by 2.85%, with losses amounting to 713.7 points, bringing it to the level of 24,296.31 points has.
12 sectors recorded weekly gains, led by the telecommunications sector, which rose by 4.46%, followed by the banking sector, by 2.81%, and the basic materials sector, which rose by 1.91%.
The rest of the sectors turned red. The long-term commodity sector made the losses, after falling by 2.28%, followed by the transport sector, with a decrease of 2.27%, and the energy sector, which fell by 0.51%.
At the level of stock performance, “AMAC” share recorded the highest gains, after rising by 23.81%, and the highest losses were for “Amanah Insurance” share, which fell by 12.54%.
“AMAC” issued active shares, with a value of about 3.68 billion riyal, and “Dar Al-Arkan” recorded the highest volumes with 64.68 million shares.
Trade values increased to 51.17 billion riyals during the week, compared to 45.76 billion riyals last week, an increase of 11.8%, bringing the average value to 10.2 billion riyals per session.
On the other hand, trading volumes fell by 7.8% to 983.5 million shares, compared to 1.07 billion shares traded last week, bringing the average volumes down to 196.7 million shares per session.
Parallel trading values fell to about 189.58 million rials, compared to about 290 million rials in the previous week, after the trading volume dropped to 2.07 million shares, compared to 3.5 million shares last week.
Kuwait Stock Exchange
The Kuwait Stock Exchange rose during the first week of April 2022, for the second week in a row, despite the slight decline in the trading movement.
The main index this week recorded a growth of 2.27% at the level of 6397.02 points, compared to 6254.76 points that closed last week, with increases of 142.26 points.
“Main 50” also increased slightly by 0.05% to reach the point 6586.59, a winner of 3.57 points, compared to the previous week’s close at the level of 6583.02 points.
The leading market index rose by about 1.16% and closed at 9,166.38 points, with increases of 104.97 points, compared to last week’s close at 9,061.41 points.
The weekly total score for the general index was positive, with an increase of 1.40%, or the equivalent of 114.32 points, to close at 8261.69 points, compared to the previous week’s close at 8146.69 points.
The Kuwait Stock Exchange’s liquidity decreased by 2.3% during the week to 340.29 million dinars, compared to 348.34 million dinars in the previous week.
The weekly trading volume also decreased by 9.9% to 1.110 billion shares, compared to 1.232 billion shares last week.
The number of total transactions during the week reached 58 548 thousand transactions, compared to 62 234 thousand transactions in the previous week, a decrease of 5.9%.
UAE financial markets
The UAE’s financial markets saw an increase in the past week as the Dubai market index rose by 1% to reach the level of 3,500 points, during the week’s trading, and has risen by 11% since the beginning of the first term
The Abu Dhabi index also rose 1.7% during the trading week, up more than 17% for the first quarter, reaching a historic high that did not reach 10,100 points, supported by an increase in trading values, and achieved news regarding growth rates of up to 3.9%, exceeding all expectations.
The leading markets and equities interacted with the new offerings as foreign investors seized an opportunity to buy in the UAE’s financial markets, with a net of 1.51 billion dirhams during the subscription period of Dubai Electricity and Water Authority “DEWA” from March 24 to April 5 in the Dubai and Abu Dhabi markets, which is the first initial public offering of Among the 10 proposals for companies linked to the Dubai government.
The net purchases of foreigners in the Dubai Financial Market during the subscription period amounted to 318,698 million dirhams, while the total value of the shares purchased amounted to approximately 1,196 billion dirhams, compared to 878,296 million dirhams, the value of the shares sold is.
The net purchases of foreigners in the Abu Dhabi market during the period amounted to about 1.19 billion dirhams, with total transactions amounting to 4.06 billion dirhams, equivalent to 8.32% of the total market trading.
During the period, foreigners bought about 2.62 billion dirhams in exchange for sales with a total of 1.43 billion dirhams.
Dewa’s entry requests reached world records, amounting to 315 billion dirhams, with the entry of global sovereign wealth funds and investment portfolios.
The number of shares available in the public offering reached 9 billion shares, valued at 22.3 billion dirhams, representing 18% of the company’s capital, while the Dubai government retains 82% of the company’s ownership.
The offer showed a strong rise, and the subscription requests exceeded the shares offered by qualified investors and individual subscribers, and the total demand for the Government’s shares amounted to 315 billion dirhams, while the subscription orders exceeded the offered shares with Exceeded 37 times.
Trading in DEWA shares is expected to begin on April 12 on the Dubai Financial Market
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