Abu Dhabi: Muhannad Dagher
Yesterday, Tuesday, local stocks witnessed further declines, affected by sales that mainly targeted leading shares in real estate and banks, prompting the general indicators of the markets to abandon support levels that were restored in previous sessions.
The Dubai market index fell again by 1.02% with the decline of «Emaar Properties» near the maximum allowed to go down, as well as «Dubai Islamic», while «Aldar» and «Etisalat» from the decline of the Abu Dhabi index to 0.25%, due to pressure from the banking sector .
Despite these declines, foreign (non-Arab) investors focused their purchases, mainly on Tuesday, on Aldar’s share, alongside Emaar Malls, Dubai Investment and Abu Dhabi Commercial. The shares attracted a total liquidity of 393.2 million dirhams, including 192.8 million dirhams in Dubai, 200.4 million dirhams in Abu Dhabi, and the traded shares amounted to 240.8 million shares.
The Dubai Financial Market Index fell to the level of 1771.31 points, with sectoral indices of real estate, banking, commodities and insurance shares declining.
The banking sector decreased 0.52% with Dubai Islamic dropping 1.09%, while Emirates NBD stabilized unchanged.
The real estate sector fell 3.47% as a result of a decrease in “Emaar Properties” 4.72%, “Emaar Development” 4.82%, “Emaar Malls” 2.72%, and “Arabtec” 0.42%, compared to a rise in “Damac” 0.62%, and “Dyar” 1.42%, and «Al Ittihad Real Estate» 1.47%.
On the contrary, the investment sector rose 1.13%, with “Dubai Investment” rising 0.9%, the “Dubai Financial Market” 1.82%, and “Shuaa Capital” 2.51%.
The transportation sector increased 0.58%, due to the rise of «Air Arabia» 1.17%, and «Aramex» 0.44%.
Abu Dhabi Market
In turn, the Abu Dhabi Securities Exchange index fell to the level of 3734.68 points, with the decline of bank shares, compared to the rise in other sectoral indices.
The banking sector fell 2% after the fall of “Abu Dhabi First” 2.33%, and “Abu Dhabi Commercial” 4.93%, while “Abu Dhabi Islamic” rose 2.05%.
On the contrary, the real estate sector rose 3.96% as a result of the rise of «Aldar» 4.76%, and the telecom sector increased 2.04% with the rise of «Etisalat» shares by the same.
The energy sector rose 2.67%, following the rise of Dana Gas by 6.54%. The investment sector increased 1.57% from the rise of “Ishraq” by 0.51%, and “Waha Capital” by 7.66%.
Most frequently traded
Emaar Properties issued trading on the Dubai market, at a value of 72.8 million dirhams, closing at 2.22 dirhams, followed by “Dubai Islamic” with a liquidity of 38.5 million dirhams, closed at 3.6 dirhams, then “Emirates NBD” by attracting 17.6 million dirhams of liquidity It closed at 7.23 dirhams. On the Abu Dhabi market, the Abu Dhabi Commercial Market was ranked 46.2 million dirhams, closing at 4.63 dirhams, followed by “Abu Dhabi First” attracting 43.25 million dirhams of total liquidity, to close at 9.65 dirhams, then “Etisalat” with transactions of 33.6 million dirhams. It closed at 14.02 dirhams.
The high and low
Gulfa Water, the leader in the Dubai market, increased by 14.62%, closing at 12.15 dirhams. In contrast, Gulf Navigation recorded the biggest drop by 5% to 0.323 dirhams.
The largest gainer in the Abu Dhabi market was “Methaq” by 14.72% to close at 0.6 dirhams. In contrast, “Abu Dhabi Shipbuilding” recorded the most decrease of 4.94% to close at 1.54 dirhams.
Concerning trading by nationalities, foreign investors and citizens tended to buy, with a net investment of 12 million dirhams, the proceeds of purchase, of which 1.65 million dirhams were the aggregate of foreigners, and 10.4 million dirhams were the citizens’ purchase.
On the other hand, Arab and Gulf investors tended to monetize, with a net investment of 12 million dirhams, the proceeds of sale, of which 4.4 million dirhams were the proceeds of selling the Arabs, and 7.7 million dirhams, the proceeds of selling the Gulf.
In the Dubai market, Arab investors and citizens tended to buy, with a net investment of 28.8 million dirhams, a proceeding of purchase, of which 7.89 million dirhams was the proceeds of Arab purchase, and 20.9 million dirhams was the purchase of citizens.
On the other hand, Gulf and foreign investors tended to monetize, with a net investment of 28.8 million dirhams, the sum of sales, distributed by 5.6 million dirhams, the sum of the sale of Gulf nationals, and 23.2 million dirhams, the sum of the sale of foreigners.
The performance of investment portfolios that tended to buy in the Abu Dhabi market varied, with a net investment of 3 million dirhams as a purchase result, while it tended to liquidate in the Dubai market, with a net investment of 24.3 million dirhams as a result of selling.
On the contrary, individual investors tended to buy in Dubai, with a net investment of 24.3 million dirhams as a result of the purchase, and to sell in Abu Dhabi, with a net investment of 3 million dirhams as a result of the sale.