The UAE’s financial markets jump amid global support

4.2 billion dirhams, Dubai share gains in the first sessions of the week

The UAE financial markets managed to reach strong highs in the first sessions of the week, with the Abu Dhabi market jumping near 9900 points, while the Dubai market rose near the 3350 points level with the support of large shares.

The performance of local financial markets coincided with the rise of global financial markets and the rise in oil prices.

Foreigners seized the opportunity to buy in the local money markets, with a net of 277.13 million dirhams in both markets, amid the momentum of liquidity of more than 1.93 billion dirhams.

Strong heights with global support

In turn, Kamco Invest’s deputy head of research and investment strategies, Raed Diab, said the UAE markets had managed to rise in its first session, which coincided with the rise in global markets and the rise in oil prices.

Diab stressed that the general atmosphere appears to be good with expectations that the economies of the Gulf states will see growth in 2022 despite the geopolitical situation, due to the high levels of oil and the strength of the economies, whose revenues exceed the budgets of the lands of the region.

He pointed out that the market in Abu Dhabi is preparing for the public offering of Borouge, which is expected to attract great interest.

Abu Dhabi mark

The Abu Dhabi market index continued to rise at the end of today’s trading session, rising by 2.37% at the 9888 point level near the 9900 point level, supported by the rise of major stocks, especially First Abu Dhabi and Aldar Properties , which coincides with the end of the listing in Borouge shares today.

The value of trading in the Abu Dhabi market was 1.57 billion dirhams, while the trading volume was 213.9 million shares.

The performance of the market came with the increase of First Abu Dhabi share by 4.54% and the increase of Aldar Properties by 5.28%, while Global Holding decreased marginally by 0.07%.

The share of Etisalat Group increased by 2.2%, while ADNOC Distribution increased by 1.46%, while ADNOC Drilling increased by 3.92%, while Dana Gas increased by 1.85%, and Taqa by 0 , 79% increased, as well as Multiplay Group increased by 3.24%, and Eshraq increased by 0.5%.

Global Holding shares were at the top of the shares in terms of trading value, with about 338.92 million dirhams, followed by First Abu Dhabi with a value of 293.29 million dirhams, then Aldar Properties with a value of 244.57 million dirhams , while Aldar was at the top of the shares in terms of trading volumes with 48.19 million shares.

The “ADC” share rose 4.2% in its first trading session in the Abu Dhabi market, reaching 11.4 dirhams.

In terms of bank shares, Abu Dhabi Islamic rose by 2.34% while Abu Dhabi Commercial rose by 4.63%.

EDC exchanges topped the Abu Dhabi market’s gains by 145.33%, followed by Abu Dhabi National Takaful by 14.87%, while Ras Al Khaimah Cement exceeded the declining shares by 5.5%.

Foreigners tended to buy in the Abu Dhabi market with a net of 168.47 million dirhams, while Arabs and Emirati tended to sell with a net of 12.58 million dirhams and 169.33 million dirhams, and Arabs in the Gulf tended to buy with a net of 13.43 million dirhams.

At the end of today’s session, the market value of the Abu Dhabi market recorded approximately 1.9417 trillion dirhams, compared to a value of approximately 1.9125 trillion dirhams, an increase of 29.2 billion dirhams.

Dubai mark

The Dubai Financial Market Index jumped 1.46% to 3,345 points at the end of today’s session, supported by the rise of 24 shares.

The value of trading on the Dubai Financial Market during today’s trading amounted to 363.78 million dirhams, with a trading volume of 116.87 million shares, through 6.38 thousand transactions.

The performance of the market came in conjunction with the rise in the banking sector index by 1.83%, while the real estate sector rose by 1.73%, and the investment sector index by 1.8%.

In terms of real estate shares in the Dubai market, Emaar Properties rose by 2.01%, while Deyaar Development rose by 0.98% and Emaar Development by 1.12%.

The performance of the banking sector coincided with the increase of Dubai Islamic by 1.69%, while Emirates NBD increased by 2.69%.

The performance of the market coincided with the increase of the Dubai market share by 2.79%, while Dubai Investments increased by 1.34%, and the security share by 1.98%.

Dewa’s share dampened the prevailing upward trend in Dubai market shares, declining by 1.16%, exceeding trading volumes.

Al-Firdaws share was at the top of the rising shares in the Dubai market with 14.97%, while Dar Al-Takaful share led the declining shares with 3.81%.

Emaar shares were at the top of the shares in terms of trading value by 88.8 million dirhams, followed by Emirates NBD share about 73.16 million shares, while Dewa shares reached the shares in terms of trading volumes by 16.46 million shares.

During today’s trading, 24 shares rose while 5 shares fell.

Foreigners tended to buy in Dubai with a net of 108.66 million dirhams, and the Gulf and Arabs tended to buy with a net of 32.82 million dirhams and 26.6 million dirhams, respectively, while Emiratis tended to sell with a net of 168.13 million dirhams.

The market value of the Dubai Financial Market recorded 549.067 billion dirhams at the end of the day, compared to a value of 544.818 billion dirhams at the end of the last session, to earn 4.2 billion dirhams.

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