Local money markets rose at the end of today’s session for the second session in a row as the Abu Dhabi market rose near 9550 points, and the Dubai market also rose near 3350 points, amid the momentum of liquidity.
The local financial markets were able to achieve strong market gains amounting to 13.94 billion dirhams in both markets.
Foreigners, Arabs and Gulf nationals snatched up to buy in the Dubai and Abu Dhabi markets in conjunction with the rise, while the Emirati tended to make money.
In turn, Aaron Leslie, analyst at Century Financial, said that the local financial market indices closed in the green zone after trading calmed in the middle of today’s session, pointing out that the rise is supported by the rise of the industrial sectors , telecommunications, utilities and real estate, noting that real estate was the most prominent asset in my market, Dubai and Abu Dhabi.
A Century analyst has indicated that Aldar Properties is considering buying a majority stake in Egyptian real estate development company Madinet Nasr Housing, explaining that this deal represents the presence of the real estate developer in Abu Dhabi in the largest Arab country in terms of population will improve. .
He continued, “As part of its plans to bring more liquidity to local stock exchanges, the Dubai Financial Market has launched new futures contracts on the individual shares of two of its leading listed companies, the Dubai Electricity and Water Authority and the GFH Financial Group. . “
He pointed to the fluctuation of oil prices ahead of the Federal Reserve meeting, which is expected to signal more monetary tightening to combat rising inflation in the United States, and said that any sharp rise in the dollar to a correction in oil prices will lead.
He added, “The Middle East stock exchanges can trade stably to negatively unless oil regains a strong trend that can support local indicators.”
In turn, a member of the Advisory Board at the Chartered Institute of Securities and Investment, Waddah Al-Taha, confirmed to Al-Roya that the region’s markets are in the midst of a state of hesitation, anxiety and the Federal Reserve’s decisions waiting on interest rates. lack of clarity of vision.
Al-Taha pointed out that the UAE markets could rise today, supported by the rise of the leading equities in conflict with the global markets, with the support of 3 main catalysts represented by the rise in oil prices and initial public offerings, as well as the positive results of companies in the first quarter.
He pointed out that the rise was led by the banks, which are the beneficiaries of the rise in interest rates, and pointed out that the continued rise in interest rates could reduce the appetite for lending and influence the behavior of investors and the movement of markets. . .
Abu Dhabi mark
The Abu Dhabi market index continued to rise for the second consecutive session, rising 0.39% to 9539 points at the end of today’s trading session.
The value of trading in the Abu Dhabi market was 1.41 billion dirhams, while the trading volume was 206.97 million shares.
The performance of the market came with the increase of the First Abu Dhabi share by 0.31%, and the increase in the number of words by 0.75%, and Aldar Properties increased by 1.88%.
International Holding and the Multiplay Group were stable, while ADNOC Distribution decreased by 0.24%, Dana Gas decreased by 0.93% and ADNOC Drilling increased by 1.18%.
Ishraq was up 2.17%, and Fairglobe was up 2.23%, while Abu Dhabi Ports was up 2.04%.
Global Holding shares were at the top of the shares in terms of trading value with a value of 355,745 million dirhams, followed by First Abu Dhabi with a value of 268,279 million dirhams, then Affabi with a value of 117.408 million dirhams, while Multiplay the shares top of the shares in terms of traded volumes with about 48.79 million shares.
Gulf Pharmaceutical Industries led the Abu Dhabi market’s gains by 4%, while IDC accounts outperformed the market’s declines by 3.36%.
In terms of bank shares, Abu Dhabi Islamic rose by 1.12% while Abu Dhabi Commercial fell by 0.21%.
Foreigners tended to buy in the Abu Dhabi market with a net of 149.62 million dirhams, as well as Arabs and Gulf people to buy with a net of 3.88 million dirhams and 3.92 million dirhams, respectively, while Emiratis tended to sell with a net of 157.43 million dirhams.
At the end of today’s session, the market value of the Abu Dhabi market recorded about 1.9978 trillion dirhams, compared to a value of about 1.9888 trillion dirhams, to earn 9 billion dirhams.
The Dubai Financial Market Index rose 1.15% at the end of today’s session to the level of 3335 points, with 16 stocks rising, especially real estate and banking stocks.
The value of trading on the Dubai Financial Market during today’s trading amounted to 387.37 million dirhams, with a trading volume of 105.77 million shares, through 5.3 thousand transactions.
The performance of the market came in conjunction with the rise in the banking sector index by 1.94%, while the real estate sector rose by 0.89%, and the investment sector index by 0.78%.
In terms of real estate shares in the Dubai market, Emaar Properties rose by 0.72%, Emaar Development rose by 2.75%, Union Properties rose by 0.40%, while Deyaar Development fell by 0.58%.
The performance of the banking sector coincided with the rise of Dubai Islamic by 2.26%, while Emirates NBD rose by 2.24%.
The performance of the market in conjunction with the increase of the Dubai market share by 2.71%, while the share of DEWA increased by 0.77%.
The Emirates Refreshments share led the rising shares in the Dubai market by 14.94%, while the Takaful Emirates share led the declines by 9.4%.
Shares of Mashreq Bank were at the top of the shares in terms of trading value by 88.59 million dirhams, followed by Emaar shares with about 87.9 million shares, and Emaar shares held the shares in terms of trading volumes by 15.97 million shares.
During today’s trading, 16 stocks rose, 11 stocks fell and 3 stocks stabilized.
Foreigners tended to buy in Dubai with a net of 35.53 million dirhams, and Arabs and Gulf citizens tended to buy with a net of 5.73 million dirhams and 246.5 thousand dirhams, respectively, while local residents sold 41.51 million dirhams, respectively.
The market value of the Dubai market recorded 542.536 million dirhams, compared to a value of 537.596 million dirhams at the end of the last session, to earn 4.94 billion dirhams.