Emirates News Today, generous cash dividends to banks push UAE stocks up to 9.9 billion dirhams

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Wednesday, January 27, 2021 – 2:52 PM

ABU DHABI, January 27, WAM – The UAE capital markets witnessed strong activity in the day before the last session of their weekly dealings, supported by the interaction of investors with the good financial results announced by some of the listed banks, and their boards of directors decided accordingly to recommend generous cash distributions to shareholders for profits last year.

The outcome of the transactions resulted in the realization of the market value of the shares of traded companies, gains of approximately 9.9 billion dirhams at the end of the session, which also witnessed an improvement in the volume of trading liquidity.

The value of deals concluded in the market rose to more than 743 million dirhams, while the number of traded shares reached 266 million shares executed through 6298 deals.

The general index of the Dubai Financial Market rose by 1.05% to reach the level of 2726 points, while the general index of the Abu Dhabi Securities Exchange closed at 5661 points, a growth of 1.42% compared to the previous day.

The daily monitoring of transactions shows a strong rise in the shares of banks that disclosed their financial data for the past year, as the share of Emirates NBD Bank rose to the level of 11.90 dirhams, and the share of Dubai Islamic Bank witnessed great activity up to 5.10 dirhams and Tabreed succeeded in closing at the level of 2.82 dirhams.

In the capital market, the share of First Abu Dhabi Bank rose after announcing its financial results to the level of 15.02 dirhams, and Aldar Properties rose by 3.5%, amounting to 3.57 dirhams, amid transactions that exceeded 113 million dirhams, and the share of the International Holding Company closed at 46 dirhams, while Etisalat share 20 dirhams.

WAM / Nasser Aref / Reda Abdel Nour

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