UAE stocks gain 26.8 billion dirhams with the support of new stimuli

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Direct – Inas BahjatThe UAE financial markets managed to achieve market gains of 26.79 billion dirhams ($ 7.29 billion) by the end of Tuesday’s session, with local incentives for shares.

According to data from the Dubai and Abu Dhabi financial markets, the market value of Abu Dhabi shares increased to 426.45 billion dirhams at today’s meeting, compared to Monday’s value at 410.59 billion dirhams, with a market profit of 15.86 billion dirhams ($ 4.32 billion).

It is noteworthy that the troubled healthcare group, “NMC” Hospital Management, revealed yesterday, Monday, talks with Abu Dhabi Commercial Bank To persuade him to withdraw the request It is suggested that the company be subject to management.

The Board of Directors of Abu Dhabi National Energy Company approved (Energy), proposed on The acquisition On most of the Abu Dhabi Energy Foundation’s electricity and water assets.

As a result, the general index of Abu Dhabi Securities Exchange rebounded by 5.51 percent, equivalent to 205.29 points, to be able to restore the level 3928.23 points.

Raed Diab, Vice President of the Investment Research Department at KAMCO Invest, commented to Mubasher that the UAE markets witnessed volatile sentiment at the end of last week, with the continuing repercussions of the spread of the new Corona virus.Expected aThe volatile performance in the markets continues, until new stimuli emerge in the coming period.

Raed Diab indicated that it is very likely that the new incentives will encourage investors to build new investment centers after many stock prices reach low levels..

The market value of Dubai shares also rose to 269.15 billion dirhams at the end of today’s session, after it recorded yesterday at a value of 258.22 billion dirhams, winning 10.93 billion dirhams ($ 2.97 billion).

The general index of Dubai Financial Market jumped 5.54 percent, equivalent to 93.79 points, touching the level of 1785.45 points.

The situation prevails from Optimism returns Caution among investors Global markets Due to the slowdown in international indicators of infection with Corona virus.

During the recent period, the UAE strengthens the incentives that support the UAE’s institutions and economy, and as a result, the UAE Cabinet approved Securities and Commodities Authority decisions By reducing the daily maximum limit of shares from 10 percent to 5 percent.

The Board approved the mechanism for the buy-back of listed companies, so that the controls and procedures for repurchasing will be facilitated The Emirates Securities and Commodities Authority has issued, Exceptional procedures for public joint-stock companies wishing to purchase their shares Until next June 30, with the aim of providing more flexibility and support to the local stock exchanges, and in a way that does not negatively affect trading in the financial market..

This follows a series of economic stimulus from The UAE Cabinet, including an additional support package worth 16 billion dirhams, to arrive The total economic stimulus package is 126 billion dirhams In the country, with the aim of facing the economic effects of the consequences of the spread of the Corona virus.

Cabinet approved a package of decisions To support subscribers of the Federal Electricity and Water Authority from the retail sector, hotels and factories, These include reducing electricity and water consumption bills by 20 percent, postponing the collection of delivery fee premiums, freezing re-service fines, as well as canceling administrative fees.

It is noteworthy that the number of people infected with “Corona” infection amounted to 1.347 million people around the world, with the number of deaths increasing to 74.76 thousand people, and the number of people recovering reached 284.88 thousand cases, Global research is still seeking to discover a vaccine for the deadly virus, with about 20 current trials in several parts of the world trying to discover a cure.

And the UAE monitored yesterday, Monday, High number of cases Confirmed the new Corona virus to 2076 cases after 277 new cases were recorded, indicating that 23 new cases of people infected with the virus have recovered and fully recovered, bringing the total of cases of recovery to 167 cases.

Nominations:

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