Stocks resist profit taking amid institutional foreign buying – the economic – the domestic market


The closure of local stocks at the end of yesterday’s session, with its exposure to partial and due profit-taking operations, which it succeeded in resisting thanks to the purchases of foreign and institutions.

The Abu Dhabi market rose 0.28% to 4,985.87 points with the rise in real estate, communications, investment, insurance, energy, services and commodities, while the Dubai market fell 0.82% at 2,399.98 points under pressure from banks, real estate, transport, services and communications. The shares attracted liquidity by 629.74 million dirhams, including 370.4 million in Abu Dhabi and 259.34 million in Dubai, and 283.3 million shares were traded, distributed by 80.3 million in Abu Dhabi and 203 million in Dubai, through 5588 deals. According to the monitoring of the «Economic Statement», institutions intended to buy in the two markets with a net investment of 15.85 million dirhams, of which 1.8 million in Dubai and 14 million in Abu Dhabi, while individual investors tended towards liquidation, with a net investment of 15.85 million dirhams, distributed by 1.8 million in Dubai and 14 million in Abu Dhabi.

Dubai market

And pressure on the Dubai market, the real estate sector fell 1.15%, with “Emaar Properties” falling 0.61%, “Emaar Development” 1.08%, “Emaar Malls” 3.14%, “Deyaar” 1.4%, and “Damac” 0.85%, and the banking sector fell 0.97% with “Dubai Islamic” fell 0.2% and “Emirates NBD” fell 1.89%.

The transport sector fell 0.03%. The investment sector increased 0.8%. Emaar Properties dominated the activity, attracting 53.3 million dirhams, followed by «Dubai Financial Market» 31.15 million dirhams, and «Dubai Islamic» 28.12 million. “Shuaa Capital” achieved the largest increase by 4%, while “Emaar Malls” was the lowest, by 3.14%. Gulf and foreign investors tended to buy, with a net investment of 25.4 million dirhams, while Arab investors and citizens tended to liquidate.

Abu Dhabi Market

The rise of the Abu Dhabi market was supported by a rise in the telecommunications sector by 1.3%, with the growth of the share of «Etisalat» by the same rate, the energy sector rose 0.27%, and the real estate sector rose 0.01%. The investment sector increased by 0.86% after the growth of “International Holding” by 0.7% and “Waha Capital” by 2.8%, while the banking sector decreased by 0.14%, with the decline of “First Abu Dhabi” 0.16%, while “Abu Dhabi Commercial” rose 0.16% and “Abu Dhabi Islamic” 0.28% .

Al-Dar leads the activity at 97.5 million dirhams, followed by Al-Alamiah Holding, 79.5 million dirhams. “Ras Al Khaimah Poultry” achieved the largest increase by 13.57%, while “Holding Capacity” was the lowest by 4.55%. Arab, Gulf and foreign investors tended to buy, with a net investment of 26.6 million dirhams, while the citizen investors tended towards selling.


The Securities and Commodities Authority advised the investor who does not have sufficient experience and information to manage his savings or investments, to seek the help of one of the consulting and financial analysis companies or investment management companies licensed by the Authority.


* The Board of Directors of the National Corporation for Tourism and Hotels will meet on December 15th to review the latest developments in the Marina Intercontinental Hotel project, extend the work period of the supervisory staff, renew the exterior surface of the “facade” in the Intercontinental Hotel in Abu Dhabi, and review the corporation’s strategic investment in buying the shares of “Finance House”.

* On December 6, the Board of Directors of “Commercial International Bank” will consider approving the estimated budget for 2021.

* The General Assembly of “Gulf Cement” company agreed to reduce the capital from 821.09 million dirhams to 410.54 million dirhams by canceling 410.54 million shares equivalent to the amount of losses for the purpose of extinguishing the accumulated losses as at the end of last September.



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