Closings of local shares varied at the end of yesterday’s session, with indicators moving horizontally pending new stimuli, amid quiet trading and limited liquidity not exceeding 200 million, with 39% of them concentrated in 3 shares led by TAQA, which received positive support due to the company merging most of the Abu Dhabi Foundation assets For energy.
The Dubai market increased marginally by 0.02% to 2062 points, with shares of real estate, services, transport, investment and insurance rising, while Abu Dhabi market fell slightly 0.18% to 4303.9 points, with sectoral indicators varying, as banks, investment, insurance, and energy rose, compared to falling communications and real estate.
The shares attracted a total liquidity of about 184.4 million dirhams (72.8 million for Energy, Union Properties and Amanat), of which 126 million were in Dubai and 58.4 million in Abu Dhabi, and 423 million shares were distributed, divided by 242 million in Dubai and 181 million in Abu Dhabi, through 2668 transactions .
The rise of the Dubai market was reinforced by the rise in the real estate sector by 0.83%, due to gains by «Emaar Properties» 0.37%, «Emaar Malls» 0.71%, «Union Properties» 0.33%, «Arabtec» 2.6% and «Damac» 5.57%, while «Dyar» decreased 0.36% And the investment sector increased 0.5% with the rise of “Dubai Financial Market” 2% and “Shuaa Capital” 0.39%, while “Dubai Investment” settled.
The transportation sector rose 0.73%. The banking sector decreased 0.7% after the fall of «Dubai Islamic» 0.51% and «Emirates NBD» 1%. “The Union Real Estate” issued the activity with a liquidity of 36.3 million dirhams, followed by “Amanat” 20 million, then “Emaar Real Estate” 12.3 million, and “Damac” achieved the largest increase of 5.57%, while the “lowest” Amlak was 3.55%.
Arab investors tended to buy with a net worth of 9 million dirhams, while Gulf and foreign investors and citizens tended to liquidate.
Abu Dhabi Market
And pressure on the Abu Dhabi market, the property decreased 0.54%. The telecom sector fell 1.31%, with the share of «Etisalat» falling by the same. The banking sector rose marginally 0.02% with the rise of “Abu Dhabi First” 0.18%, while “Abu Dhabi Islamic” fell 0.27% and “Abu Dhabi Commercial” 0.79%, the investment sector increased 1%, and the energy sector rose 2.8%.
TAQA claims the activity at 16.4 million dirhams, followed by “Global Holding” 6.6 million, and “Julphar” 6.4 million dirhams. TAQA achieved the largest increase, 14.95%, while Sharjah Cement was the most declining, at 4.89%. Arab, Gulf and foreign investors tended to buy with a net worth of 8.5 million dirhams, while citizen investors tended towards monetization.
* The board of directors of United Arab Bank meets today to approve the consolidated financial statements for the period ending March 31.
* Ras Al Khaimah Cement Company announced that its board of directors had taken a decision to pass, appointing a financial services consultant.
* The «Gulf Navigation» Company, confirmed the completion of the sale of the petrochemical tanker (Gulf Mirdif), without achieving any profits, but the company will be able to settle all its financial obligations due on the ship, and thus, improve the financial leverage of the company.
* Orient Insurance Company decided to postpone the start of its business in the Saudi market, which was expected to proceed during the current year, until the middle of 2022, due to the conditions resulting from the Corona pandemic.
* The General Assembly of “Takaful House” company will meet on August 9th.
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