After inviting experts across the “Gulf” in the number of last Tuesday, to move to reduce the maximum limit (the limit down), and to find an appropriate solution regarding margin callback, and to achieve call rates from 25% to less than that, the Securities and Commodities Authority took its decision yesterday to reduce The minimum amount for shares to drop from 10% to 5% in a single trading day, and the decision that comes into effect from today’s session is permitted for the market to raise the ratio to (7%) for a limited number of companies ’shares that are chosen according to criteria determined by the market and approved by the authority.
In yesterday’s session, the Dubai market index fell by 4.98%, and “Abu Dhabi” 6.33%, amid new declines and the maximum limits of 10% for many stocks, including the leading in real estate and banks.
The shares attracted cash amounting to 626 million dirhams, including 339.86 million dirhams in Dubai, 286.16 million dirhams in Abu Dhabi, and traded shares of 460.75 million shares, distributed by 332.25 million shares in Dubai and 128.5 million shares in Abu Dhabi.
The shares of 57 companies were traded, the shares of 6 companies rose, while the shares of 46 companies declined, and this came through 9,222 transactions.
And the Dubai Financial Market Index fell at the level of 1750.77 points, with a new collective descent of the sectoral indices, with the exception of insurance.
And the banking sector fell 2.4% with the fall of «Dubai Islamic» 0.73%, and «Emirates NBD» 5.4%.
The real estate sector fell 9.5% as a result of the decline of «Emaar Properties» 9.95%, “Emaar Development” 9.96%, “Emaar Malls” 9.4%, “The Union Real Estate” 7.89%, “Arabtec” 9.4%, and “Damac” 7.8 %, And «Deyaar» 7%.
The investment sector fell 8.86%, due to the decline in “Dubai Investment” 9.9% and the “Dubai Financial Market” 7.3%, compared to the rise of “Shuaa Capital” 2.17%.
The transportation sector fell 2.23% due to Aramex decline 5.28%, in conjunction with the stability of «Air Arabia», and the rise of «Gulf Navigation» 5%.
Abu Dhabi Market
In turn, the Abu Dhabi Securities Exchange index fell to the level of 3323.35 points, with all sectoral indices falling except for investment.
And the banking sector fell 7.75% with the decline of “Abu Dhabi First” 9.95%, “Abu Dhabi Commercial” 3.78%, and “Abu Dhabi Islamic” 1.33%.
The real estate sector decreased 1.89% as a result of a decrease in «Aldar» 1.38%, and «Ras Al Khaimah Real Estate» 7.63%. The telecom sector fell 7.07%, after the “Etisalat” share declined by the same percentage.
The energy sector fell 3.79%, with “Dana Gas” dropping 5.83%, “ADNOC Distribution” 1.92%, and “Energy” 2.2%.
On the other hand, the investment sector rose 1.87%, with the rise of “Global Holding” 3.7%, despite the decline of “Ishraq”, 9.8%.
Emaar Properties issued transactions worth 88.3 million dirhams, closing at 1.99 dirhams, followed by “Dubai Islamic” with a liquidity of 77 million dirhams, closed at 4.06 dirhams, then “Emirates NBD” with trades that reached 45.6 million dirhams, and closed at 7.18 dirhams.
In the capital market, “Abu Dhabi First” again dominated the top of trading by about 100 million dirhams, closing at 8.51 dirhams, followed by “Etisalat” with a liquidity of 52.12 million dirhams, to close at 11.04 dirhams, then “Abu Dhabi Commercial” which attracted 40.2 million dirhams of liquidity , And closed at 4.33 dirhams.
And «Salama Insurance» recorded the most increase in the Dubai market, by 7.8%, closing at 0.359 dirhams. In contrast, Emaar Development recorded the most decline, at 9.96%, closing at 2.26 dirhams.
The gains in Abu Dhabi were limited to only three stocks, led by Sudatel, by an increase of 8.89% to 0.29 dirhams. In contrast, three shares fell by 10%, which are: “Methaq”, “Emirates Driving” and “Manazel” ».
Abu Dhabi Securities Exchange data showed that foreigners continue to move towards monetization, with a net investment of 69.2 million dirhams as a result of selling, in exchange for purchases of Arab and Gulf investors and citizens, with a net investment of 69.2 million dirhams, a proceeds of purchase, distributed by 3.4 million dirhams, the proceeds of buying Arabs, and 27 One million dirhams of the purchase of Gulf nationals, and 35.8 million dirhams of the purchase of citizens.
In the Dubai market, Arab investors and citizens tended to buy, with a net investment of 45.5 million dirhams, a purchase result, of which 5.8 million dirhams was a purchase of Arabs, and 39.7 million dirhams, the outcome of citizens’ purchase. In contrast, Gulf and foreign investors tended to monetize, with a net investment of 45.5 Million dirhams as a result of selling, distributed by 150,000 dirhams, as a result of the sale of Gulf nationals, and 45.4 million dirhams as a result of selling foreigners.
Liquidation of investment portfolios in the two markets also continued, with a net investment of about 37 million dirhams, as a result of the sale.
On the other hand, individual investors turned towards buying, with a net investment of 37 million dirhams.