UAE stocks managed to record market gains of about 17.79 billion dirhams in both markets, amid a momentum of liquidity that exceeded 2.11 billion dirhams.
Abu Dhabi Financial Market
By the end of today’s session, the Abu Dhabi Securities Index rose by 0.66% at the level of 8,453 points. The value of trading in the Abu Dhabi market reached 1.58 billion dirhams, while the trading volume amounted to 194.29 million shares.
The performance of the index came in conjunction with the decline in the share of International Holding by 0.98% at a price of 151 dirhams per share, while the share of First Abu Dhabi rose by 0.84% at a price of 19.16 dirhams.
The share of Aldar Properties increased by 0.24% at a price of 4.1 dirhams, and the share of Etisalat Group rose by 1%, while the share of Alpha Abu Dhabi rose by 2.43%.
Global Holding topped the shares in terms of trading value through 334.27 million dirhams, followed by First Abu Dhabi with a value of 305.65 million dirhams, while Aldar Properties topped the shares in terms of trading volumes, executing a trading volume of 62.37 million shares.
Al Buhaira National Insurance topped the rising shares in the Abu Dhabi market, rising today by 14.86%, followed by “National Takaful” by 12.48%, and in contrast, “Bildco” topped the falling shares in the market by 8.97%.
And the market value of the Abu Dhabi market recorded about 1.5743 trillion dirhams, compared to a value of 1.5627 trillion dirhams in the last session, to gain about 11.6 billion dirhams.
Dubai Financial Market
The general index of the Dubai Financial Market rose by 0.42% at the level of 3170 points, despite the decline in the market’s share.
The Dubai Financial Market share fell by 1.14% at a price of 2.59 dirhams per share, while the share of Emaar Properties rose by 1.02% at a price of 4.91 dirhams per share.
Likewise, the share of Amlak rose by 2.66% at the level of 0.77 dirhams per share, and the share of Dubai Islamic rose by 0.75%.
On the other hand, Union Properties and Emirates NBD declined by 3.87% and 1.12%, respectively, as well as Deyaar Development by 1.45%.
Emaar Properties topped the shares in terms of trading value, executing trades with a value of 131.03 million dirhams, followed by the Dubai Financial Market share by 82.27 million dirhams, while Union Properties topped the shares in terms of trading volume with 129.82 million shares.
The Emirates Islamic Bank’s share topped the rising shares in the market by 14.92%, while Union Properties issued the bearish shares.
The value of trading on the Dubai Financial Market during today’s trading amounted to 538.84 million dirhams, with a trading volume of 416.13 million shares, through 7.3 thousand transactions.
During today’s trading, 19 stocks rose, 12 stocks fell, and one stock settled.
The market value of the Dubai Financial Market recorded 404.366 billion dirhams, compared to a value of 398.171 billion dirhams in the last session, to gain 6.19 billion dirhams.
keep his winnings
For his part, Vice President of Investment Research and Strategies at Kamco Invest, Raed Diab, said that the Abu Dhabi market index maintained its gains near its highest levels ever recorded, while the Dubai index witnessed profits after the successive rise in the recent period, but it returned and compensated some of its losses with weekend.
Diab stated that there was caution about the repercussions of the recent outbreak of the Corona virus (Covid-19) again in many countries, especially European closures to limit the spread and the negative repercussions that may result on global economic growth, but the UAE markets remain strong incentives. A high liquidity ratio and expected listings in the coming period with the plan set by the Dubai government to list 10 government and semi-governmental companies in the Dubai market, in addition to launching a market maker fund and another fund to encourage technology companies to list.
Diab noted that the financial results of the listed companies and banks for the first nine months of this year compared to the same period in 2020 were strong and attractive to investors, as Abu Dhabi market companies recorded a growth rate of 48%, while their counterparts in the Dubai market achieved 60%.
Diab expected to see the momentum again and focus on positive market fundamentals, as the impact of the virus outbreak in several regions may be temporary, with the high vaccination rate recorded in the country and the strong precautionary measures taken to control any new spread.
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