The UAE stock markets declined during the trading of the first week of February 2022, in conjunction with the pressure of the performance of global financial markets, amid geopolitical tensions and investors’ anticipation of the announcements of the results of companies and banks during the past year, which preliminary indicators confirm that they will be strong, especially in the banking sector.
Financial analysts said energy stocks boosted market performance last week, and their positive performance is expected to continue next week in the face of rising global geopolitical tensions that have led to rising oil prices.
Over the past week, local equities have attracted liquidity of 8.04 billion dirhams, including liquidity of 6.9 billion dirhams in the Abu Dhabi market, and 1.14 billion dirhams in the Dubai Financial Market, so that liquidity is concentrated in 3 shares listed in Abu Dhabi: (International Holding) and (First Abu Dhabi) and (Al-Dar Real Estate).
Century Financial chief researcher Aaron Leslie John said the performance of energy stocks boosted the performance of the Abu Dhabi Stock Exchange during the week, led by ADNOC Distribution. Dubai has supported the performance of du, with the decline of other major sectors under pressure from the performance of global financial markets, with the Federal Reserve expecting to raise interest rates by about 5 times during the year.
Energy is the beneficiary
In turn, Seven Capital CEO Mohamed Shaheen said adding 98 new economic activities to Dubai’s portfolio gave investors space to develop the financial infrastructure.
He added that with ADNOC’s announcement yesterday that it had discovered between 1.5 and 2 billion cubic feet of raw gas from exploration sites in Abu Dhabi, the oil and gas sector would also benefit from more growth in the strategic oil and gas sector.
Al Ansari Financial Services Executive Director Iyad Al-Buraqi said the UAE’s financial markets had seen a performance over the past week that tended to trade stably and horizontally in most of the sessions, amid investors ‘anticipation for the results of the companies’ business and what is happening in the global financial markets.
Abu Dhabi mark
Last week, the Abu Dhabi Securities Index fell 0.38% to 8732 points.
Market performance coincided with the decline of First Abu Dhabi share by 3.02%, the Bank of Sharjah fell by 2.48%, Abu Dhabi Commercial rose by 1%, Sharjah Islamic fell by 1.03 % increased, Commercial International increased by 13.30% and Abu Dhabi Islamic increased by 0.29%. %.
Affabbi rose 8.4%, while the Etisalat Group’s shares fell 1.03%, and ADNOC Drilling rose 3.53%, ADNOC Distribution rose 0.24% and Dana Gas rose 4%. .9% increased.
During the week, the holding of International Holding rose 1.05%, while Aldar Properties settled at the level of 4.12 dirhams, and Multiplay rose 0.62%.
Global Holding was at the top of the shares in terms of trading value and attracted about 1.55 billion dirhams, followed by the first Abu Dhabi share with a trading value of 1.51 billion dirhams, and Aldar Properties with a value of 1.32 billion dirhams.
The value of trading on the Abu Dhabi Stock Exchange was 6.9 billion dirhams, with a trading volume of 1.1 billion shares.
And the market value of the Abu Dhabi Stock Exchange at the end of last week recorded 1.641 trillion dirhams, compared to a value of 1.6232 trillion dirhams at the end of the previous week, to win 17.8 billion dirhams.
In the Abu Dhabi market, foreign investors tended to buy with a net of 136,956 million dirhams, and a total turnover of 1.9 billion dirhams, equivalent to 13.77% of the total market trade. On the other hand, Emiratis tended to sell with a net of 233.943 million dirhams, with a total turnover of 11.43 billion dirhams.
Arabs also tended to sell with a net of 32.44 million dirhams, while Arabs in the Gulf tended to buy with a net of 130.07 million dirhams.
Over the past week, the Dubai Financial Market Index has fallen by 1.54% to the level of 3170 points.
The performance of the Dubai Financial Market came in conjunction with the decline of the banks and real estate indices by 1.73% and 2.33% respectively, while the investment index fell by 0.06%.
The value of trading in the Dubai Financial Market amounted to about 1.14 billion dirhams.
And the market value of the total Dubai Financial Market at the end of last week reached about 406.05 billion dirhams, compared to a value of 412.052 billion dirhams in the previous week, 6 billion dirhams.
The performance of the real estate index came with Emaar Properties up 3.27% while Union Properties down 1.31% while Deyaar Development down 2.08%.
The performance of the investment index came with the share of Dubai Investments rising by 4.69% while the Dubai Financial Market fell by 8.37%.
Over the past week, Dubai Islamic has fallen by 0.36%, while Emirates NBD has fallen by 4.33% and Amlak by 4.15%.
And foreigners tended to sell in the Dubai market with a net amount of 28.87 million dirhams, as the total shares bought amounted to about 305.518 million dirhams, while the total shares sold amounted to 334.391 million dirhams.
While the Emiratis tended to buy with a net of 6.91 million dirhams, as did the Arabs to buy with a net of 15.65 million dirhams, while the Gulf people tended to buy with a net of 6.29 million dirhams.