Dubai Financial Market earns 13.87 billion dirhams in a week

The Dubai Financial Market strengthened its gains at the end of the week’s trading, and its market capitalization gained more than 13.87 billion dirhams, mainly supported by the gains of leading stocks in the real estate and financial sectors.

The market capitalization of stocks listed on the Dubai Financial Market increased from 747 billion dirhams at the end of last week, reaching 760.87 billion dirhams at the end of yesterday’s session on Friday, while the market value of the Abu Dhabi Securities Market reached about 2.91 trillion dirhams.

The Dubai Financial Market General Index continued its rise for the seventh week in a row, and this week recorded gains of about 1.9%, equivalent to 84.9 points, to close at 4,521.26 points, compared to last week’s close at 4,436.37 points. The general index of the Abu Dhabi Securities Market recorded weekly gains estimated at about 31 points, equivalent to a percentage of 0.3

Supporting foreign institutions

In turn, Dean Kanaan, economic and investment advisor, explained to “Emirates Today” that the Dubai Financial Market receives great and clear support from foreign institutions, which have shown a strong desire to increase the financial positions in the stocks listed on it, especially in light of the return on cash dividends reaching between 5% and 7%. % and after the recent FTSE Russell upgrade

He stated that the Dubai Financial Market is also receiving support from economic growth and remarkable activity in key sectors such as real estate and other basic services, which has been reflected positively on the performance of shares of major listed companies.

He pointed out that there will be a restructuring of investment portfolios during the coming months of October and November, which will increase the demand for seizing opportunities in stocks that recorded good operating profits in the first half and disclosed lucrative cash dividends.

He stressed that the recent economic agreements signed by the UAE with the United States, most of which relate to the economic aspect, will be positive and will enhance the operational aspects of companies in the main sectors in the country, noting that most of these companies are listed.

In this regard, a member of the National Advisory Council at the Chartered Institute for Securities and Investment, Waddah Al-Taha, told Emirates Today that the new anticipated offerings, especially if they include initial public offerings or private companies, will have a major role in enhancing market gains. Finance and the increased appetite of investors, both local and international, to seize opportunities in listed stocks that have recorded strong operational performance

The shares attract liquidity of 1.74 billion dirhams

It is noteworthy that on a daily level, local stock markets attracted, at the end of Friday’s trading, liquidity approaching 1.74 billion dirhams, with its concentration in real estate, financial, and banking stocks.

Liquidity was distributed at 1.45 billion dirhams on the Abu Dhabi Securities Market, and 282.5 million dirhams on the Dubai Financial Market, after 546.41 million shares were traded through more than 33,461 thousand transactions.

The Dubai Financial Market Index fell by 0.12% to 4521.26 points, while the Abu Dhabi Market Index “Fadji” fell by 0.47% to 4521.26 points.

Slight profit taking

For his part, the financial advisor, Mahmoud Atta, explained that it is normal for slight profit-taking operations to occur, causing the Dubai Financial Market Index to decline at the end of the week’s trading and reversing its trend of decline after witnessing an increase for three consecutive sessions during which it recorded its highest levels in 10 years. He expected investors to increase their positions in stocks again in the coming period, especially with the emergence of economic expectations of increased domestic growth in various sectors, especially the non-oil sectors.

The most liquidity-attracting stock in Dubai was “Emaar Properties” stock, with trades worth 57.54 million dirhams, followed by “Dubai Financial Market Company” stock, with trades worth 46.73 million dirhams.

While the “Multiplay” stock was the most liquidity-attracting stock in Abu Dhabi, the “Modon Holding” stock, with trades worth 357.8 million dirhams, rising by 4.3% at 3.64 dirhams, recording the highest close since October 2023, followed by the “International Holding” stock at about 165.98 million dirhams, followed by the “Multiplay” stock. “Ibex Investment” by about 145,042 One million dirhams