Local stocks gain 38 billion dirhams in two sessions

Local stock markets increased their gains and their market capitalization gained about 38 billion dirhams at the end of the first two sessions of this week (Monday and Tuesday), with dealer activity focusing on leading stocks in the real estate and banking sectors.

The market capitalization of listed stocks rose from 3.603 trillion dirhams in last Friday’s session, to 3.641 trillion dirhams by the end of yesterday’s session (Tuesday).

At the end of yesterday’s session, local stock markets attracted liquidity of approximately 1.5 billion dirhams, coinciding with “International Holding”, “Aldar Properties”, “Emaar Properties” and “Emaar Development” topping the list of activity.

Liquidity was distributed at 1.048 billion dirhams on the Abu Dhabi Securities Market, and 456.46 million dirhams on the Dubai Financial Market, after 574.22 million shares were traded through the implementation of more than 33,054 thousand transactions.

The Dubai Financial Market index closed up by 1.024% at the level of 4583.36 points, stable at its highest levels in 10 years, while the Abu Dhabi Securities Market index “Fadji” also rose by 0.05% to reach the level of 9312.44 points.

In the Dubai market, “Emaar Properties” topped the most active stock, attracting liquidity of about 114.413 million dirhams, and closed up by 0.45% at 8.88 dirhams, followed by “Emaar Development” with liquidity of 44.25 million dirhams and closed up by 1.6% at 9.33 dirhams, to remain at the highest level on record. Launching, then Emirates NBD, attracting 39.12 million dirhams to close at 19 dirhams.

The total amount of foreign investors’ purchase transactions amounted to about 45.69 million dirhams, after purchases worth 246.41 million dirhams, and sales worth 200.72 million dirhams.

The value of citizens’ “sales” of shares in the Dubai Financial Market amounted to about 255.74 million dirhams, compared to “purchases” worth 210.05 million dirhams, so that the total was a “sale” worth 45.69 million dirhams.

Institutions also tended to purchase at a value of about 274,216 million dirhams, compared to “sales” amounting to 244,073 million dirhams, and the net institutional investment amounted to about 30,142 million dirhams, the result of “purchase.”

The value of individual sales amounted to 212.39 million dirhams, compared to purchases of shares worth 182.25 million dirhams, so that the total “sales” amounted to about 30.142 million dirhams.

On the Abu Dhabi Securities Market, “International Holding” shares accounted for the largest share of trading, with liquidity of 160.98 million dirhams, and closed stable at 402.1 dirhams.