Analysis .. 13 UAE stocks seized 80% of the market gains in August


Mubasher – Inas Bahjat: 13 Emirati stocks captured 80 percent of the total market gains in the UAE financial markets during the trading month of August of 2020, given that investors were optimistic about some positive news about these shares.

Thirteen stocks in the Dubai and Abu Dhabi financial markets managed to achieve market gains during the past month, amounting to 49.04 billion dirhams, out of the total market gains of the local markets amounting to 61.6 billion dirhams (16.77 billion dirhams) during the month, according to a statistic conducted by “Mubasher” on official data To the markets.

This coincides with the positive news about some companies, which prompted investors to selectively buy some shares, especially in the Abu Dhabi Stock Exchange, which snatched about 66.6 percent of the total gains in the markets during August of this year.

This is in addition to revealing the results of the companies ’business, which showed the cohesion of the largest companies in the Emirates amid the challenges created by the Corona pandemic around the world.

As a result, the general index of the Dubai Financial Market rose by 9.5 percent, reaching the level of 2245.29 at the end of August, compared to its level for the past month at 2050.77 points, a gain of 194.52 points.

Dubai shares achieved a market value of 312.92 billion dirhams at the end of last month, compared to about 292.34 billion dirhams in the previous month, with gains of 20.58 billion dirhams.

As for the Abu Dhabi Stock Exchange, its index increased by 4.9 percent, to reach the level of 4,519.32 points at the end of August, compared to the level of 4,304.73 points, with a profit of 214.59 points.

The market value of Abu Dhabi’s shares increased by 41.02 billion dirhams, to 677.32 billion dirhams at the end of last month, compared to about 636.30 billion dirhams in July.

Good luck Aldar Real Estate About 17.3 percent, with a value of about 2.36 billion dirhams, And marine bulldozers By about 300 million dirhams, a growth of 31.5 percent, ADNOC Distribution By 1.9 percent, with a profit of 750 million dirhams.

The National Marine Dredging Company recently received an offer from the General Holding Company – wholly owned by the Abu Dhabi Development Development Holding Company – and the other shareholders of the National Petroleum Construction Company.

The last presentation indicated the possibility of unifying the work of the national marine bulldozers with the national petroleum constructions through their merging into one entity, as Abu Dhabi seeks To establish a giant regional oil and gas services company.

The deal coincides with difficult conditions the oil and gas sector is going through, as demand for the sector’s products has been severely affected by the outbreak of the new Corona Covid-19 epidemic.

The shares were accepted by investors Abu Dhabi National Energy “Energy” To rise 10.5 percent, snatching gains of 15.74 billion dirhams after the Emirates Water and Electricity Company announced the victory of the coalition led by the Abu Dhabi Energy Company (Taqah) Of developing the Al Dhafra Solar PV PlantAfter several other catalysts appeared on the stock that made it a brilliant shine in the eyes of investors during last month’s transactions.

An arrow jumped Abu Dhabi Commercial 10.4 percent, achieving a market profit of 3.61 billion dirhams, And Abu Dhabi Islamic 8.1 percent with a market profit of 1.09 billion dirhams, And Abu Dhabi first 4.9 percent, about 5.89 billion dirhams, with market gains, And integrated communication “du” A profit of 760 million dirhams, or about 3.3 percent.

The recovery of bank shares, especially in the capital market, came after the troubled company, “NMC” for Health Care, announced that it was seeking to temporarily halt debt repayment, as the company specialized in health care aims to temporarily halt the payment of business debts, restructure debt and sell assets as part of a plan that lasts for its duration. Three years.

A share is rebounded Emaar Properties By 12 percent, with a profit of 2.22 billion dirhams, And Emaar Development 9.2% of profits of 760 million dirhams, Emaar Malls 4.5 percent profit of 780 million dirhams.

And recently, Mohamed Alabbar, founder of the company Emaar Properties And its subsidiary companies, the mid-term results for the current year confirm the preservation of the company’s strength in dealing with challenges and its flexibility with the consequences of the Corona epidemic.

These statements boosted investor confidence after the company made 2 billion dirhams profit at the end of a period The first six months From this year, only a 35 percent decline is what investors and experts considered to be coherent in the face of the real estate sector challenges amid “Corona”.

On the other hand, a share rose Dubai Islamic Bank 8.7 percent, to reach its market gain during the month of 2.4 billion dirhams, And Emirates NBD 22.2 percent during monthly transactions with a market profit of 12.38 billion dirhams.

This coincided with the disclosure of the semi-annual review of the FTSE Russell UAE Stock Index of the addition of the Emirates NBD stock, listed on the Dubai Financial Market on the Dubai Stock Exchange, in the FTSE Russell Index for large-cap companies, provided that these changes will be implemented as of the end of September 18 This year.

Emirates NBD also indicated that it is currently conducting preliminary discussions with the BLOM Bank regarding the possibility of a possible acquisition of the current shareholding share in Egypt, which prompted investors to buy it.

Loss-making stocks

Regarding the biggest losses, the share of the Abu Dhabi Telecom Group fell by 0.48 percent, and the Gulf Navigation shares by 1.8 percent, with the disclosure of the accumulated losses.

Arabtec Holding shares fell by 47.3% as investors anticipated the General Assembly’s decision to liquidate or continue the company’s activity after a financial crisis for the second time in a short period.

With the same negative performance, Damac Properties’ shares recorded a decline of 2.44% during the monthly trading.

During the next stage, Raed Diab, a financial market analyst and vice president of the investment research department at KAMCO Invest, expected to “Mubasher” that the second half of this year will be better than the first half after the retreat of the listed companies’ results from the first half affected by the spread of the virus and the big drop. Oil prices in light of the decline in demand due to the closure and the embargo.

Diab explained in his own analysis that there are expected mergers to create larger entities and listings of investment funds, which may lead to attracting new investments, in addition to earlier data that indicated improved private sector growth and improved oil prices, which positively affected investor sentiment.


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