At the end of today’s session 9.8 billion dirhams UAE share gains

At the end of trading today, the local stock markets gained about 9.8 billion dirhams, supported by the gains of the leading stocks in the real estate, banking, communications and investment sectors, amid liquidity exceeding 1.75 billion dirhams has.

The local financial markets rose at the end of today’s session, today, Tuesday, so that the Abu Dhabi market changed its downward trend that it has seen over the last nine sessions, and the Dubai market could close to the level of 3300 points rise, with the support of major stocks, especially real estate.

The local capital markets were able to achieve strong market gains amounting to 9.8 billion dirhams in both markets.

In conjunction with the rise in international oil prices above the $ 120 per barrel price, the rise dominated the energy stocks listed on the Abu Dhabi market.

Abu Dhabi mark

The Abu Dhabi market index reversed its bearish trend over the past nine sessions, rising 1.007% to 9,502 points at the end of today’s trading session, following the sharp declines in global financial markets. saw yesterday.

The value of trading in the Abu Dhabi market amounted to 1.48 billion dirhams, while the trading volume reached 181.76 million shares.

The performance of the market came with the increase of the First Abu Dhabi share by 0.83%, the Global Holding increased by 0.75% and the Etisalat Group increased by 4.24%.

Alfafbabi decreased by 2.5%, Vertglobe decreased by 0.37%, Aldar Properties decreased by 0.42%, ADNOC Drilling increased by 2.42%, ADNOC Distribution increased by 0.24%, Dana increased by 1.89% and Eshraq increased by 1.93% rose.

Global Holding shares were at the top of the shares in terms of trading value with a value of 348.17 million dirhams, followed by First Abu Dhabi with a value of 248.97 million dirhams, and then with a value of 176.85 million dirham, while Multiplay was at the top of the shares in terms of trading volumes with 42.45 million shares.

IDC led the Abu Dhabi market’s gains by 5.42%, while Gulf Investments led the market’s declines by 6.72%.

In terms of bank shares, Abu Dhabi Islamic fell by 1.23% while Abu Dhabi Commercial fell by 0.21%.

Foreigners tended to sell in the Abu Dhabi market with a net of 61.73 million dirhams, while Arabs and locals tended to buy a net of 6.33 million dirhams and 83.27 million dirhams, respectively. while Arabs in the Gulf tended to sell with a net of 27.88 million dirhams. .

At the end of today’s session, the market value of the Abu Dhabi market recorded about 1.9888 billion dirhams, compared to a value of about 1.9802 trillion dirhams, to earn 8.6 billion dirhams.

Dubai mark

The Dubai Financial Market Index rose 0.3% to 3297 points at the end of today’s session, with 10 stocks rising.

The value of trading on the Dubai Financial Market during today’s trading amounted to 272.28 million dirhams, with a trading volume of 113.38 million shares, through 5.8 thousand transactions.

The performance of the market came in conjunction with the rise in the banking sector index by 0.61%, while the real estate sector rose by 0.21%, and the investment sector index fell by 0.95%.

In terms of real estate shares in the Dubai market, Emaar Properties increased by 0.36%, Emaar Development increased by 0.69%, Union Properties increased by 0.4%, while Deyaar Development decreased by 3.72%.

The performance of the banking sector coincided with the stability of Dubai Islamic, while Emirates NBD rose by 1.52%.

The performance of the market coincided with the decline of the Dubai market share by 0.54% while the Dewa share decreased by 0.38%.

The Emirates Refreshments share led the rising shares in the Dubai market by about 14.85%, while the Deyaar share was above the falling shares.

Emaar shares were at the top of the shares in terms of trading value by 68.68 million dirhams, followed by Dewa shares with about 39.63 million shares, and Dewa shares held the shares in terms of trading volumes by 15.31 million shares.

During today’s trading, 10 stocks rose, 12 stocks fell and 5 stocks stabilized.

And foreigners tended to sell in Dubai for a net of 13.99 million dirhams, and the Gulf people tended to sell for a net of 2.46 million dirhams, and locals went for a net of 9, Bought 2 million dirhams, and Arabs bought a net of 7.26 million dirhams. .

The market value of the Dubai market recorded 537.596 million dirhams, compared to a value of 536.475 million dirhams at the end of the last session, to earn 1.12 billion dirhams.

Devesh Mamtani, an analyst at Century Financial, said local financial markets managed to rise at the end of today’s session, following the marginal decline it saw at the start of the session, with the support of telecommunications and real estate shares.

Mamtani pointed out that Shuaa Capital announced today that it has completed its acquisition of Allianz Marine and Logistics Holdings Limited (Allianz) from its managed fund after raising a $ 160 million 7-year facility, explaining that this transaction is proof of the regional company’s growth.

At the same time, Borouge joined the FTSE Russell series of global stock indices, including the FTSE Emerging Equity Index, the FTSE Global Large Stock Index, and the FTSE All Global Index, effective June 10, 2022.

On the reasons for the previous declines, he pointed out that the Middle East markets are keeping pace with global sales, as traders are increasingly concerned about the impact of inflation and the tightening of central banks on the global economy.

He said global oil prices were rising today against the backdrop of declining inventory and dwindling reserve capacity and the risk that supply growth in the recovery of demand would slow in the coming months.

The analyst noted that so far on an annual basis, the UAE markets are still the top winners in the financial markets due to the inflation of energy oil prices.

Mohamed Shaheen, chief executive of Seven Capitals, said for his part that global financial markets were seeing a big sell-out with growing fears of a recession ahead of the Federal Reserve’s main meeting this week.

He pointed out that the Standard & Poor’s 500 index had fallen by 3.88% to 3,749.63 points, the lowest level since March 2021, bringing its losses from its record high in January to more than 21% bring.

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