The UAE conducted a new experiment to improve the conditions of the UAE Stock Exchange after it gradually opened the economy where Emirati stocks were able to achieve very large market profits in today’s trading with an estimated value of 32.57 billion dirhams ($ 8.87 billion) during the first three sessions of the holy month. Ramadan coincided with the reopening of economic activity in the Emirates again after several weeks of closure, in order to limit the spread of the Corona virus.
In a related context, which prompted many investors to buy all shares with an operating performance that reached very low prices.
With the increase in trading appetite among many Arab and foreign investors, the market value of the Abu Dhabi stock group reached 472 billion dirhams at the end of today’s trading session, compared to about 448.86 billion dirhams, with gains of 23.14 billion dirhams ($ 6.29 billion).
The general index of the Abu Dhabi Securities Exchange increased by 1.21%, equivalent to 50.50 points, to reach 4220.58 points, at the highest level since the previous trading session on March 11, while it may equate to more than a month and a half, “six weeks” of circulation. .
In this regard, the tone of optimism in the markets within the UAE has increased after the recent decisions regarding the reopening of economic activity, as the value of the UAE market for the Dubai shares group recorded today is 287.69 billion dirhams, compared to the value of 278.26 billion dirhams in the previous week’s transactions, with market gains of 9.43 One billion dirhams ($ 2.57 billion).
The general index in the Dubai Financial Market rose by 0.58 per cent, equivalent to 11.58 points, to reach 1997.67 points, touching its best level since the previous trading session of March 15, equivalent to more than a month “5 weeks” of transactions near 2000 points levels.
In addition to that, the performance was boosted by the launch of the Dubai Financial Market in the morning trading, Dubai Clearing Company and Dubai Depository Company officially as two independent companies for post-trading services.
On the other hand, Dubai Clearing Company is considered the first independent company in the current period within the field of central clearing services for securities at the local level, while Dubai Central Depository Company is the first independent company for all central depository services for securities in the UAE territories.
It is worth noting that Dubai Clearing Company and Dubai Central Depository Company are affiliated with Dubai Clearing and Central Depository Company, which is specialized in post-trading services and wholly owned by the Dubai Financial Market, and they were established as part of a wide reorganization of all post-trading services and separation from trading activities in a manner Comprehensive and integrated.
On the one hand, Abu Dhabi Export Office “ADEX” allocated this morning 550 million dirhams (150 million dollars) to finance companies ’exports in the UAE and support ways to recover from the consequences of the Corona virus crisis in the UAE.
At the present time, a state of extreme optimism prevails over the appetite of investor trading, as a result of the beginning of the return of economic activity once again to many investors in the Emirates, where eleven centers and marketing destinations in the Emirate of Dubai are scheduled to be opened temporarily, after a period of closure in order to Reducing the spread of the Corona virus, while Abu Dhabi’s economy may require that all workers in commercial centers be examined in order to grant them a return to work permit again.
Moreover, all shops and commercial establishments in the Al-Ras area, the Naif area and the Gold Market area can directly or temporarily work immediately after the “zero” injuries were recorded in Corona throughout the previous two days, with the ban in the two regions continuing from 10 pm until 6 am, as is the case. The rest of the emirate.
The Emirate of Dubai intends to reopen its doors again to all tourists in the beginning of next July after their reception was stopped and the airport was closed the previous month in order to contain the pandemic of the Corona virus emerging (Covid-19).
This is despite the continuation of the detection again of new cases in the Emirates, to reach today 11.38 thousand cases of “Corona” virus, after the Ministry of Health and Community Protection in the Emirates revealed 541 new cases of new Corona virus.