Local stocks continued to move within narrow cross-ranges and closed stable at the end of yesterday’s session, with continued sentiment dominated anticipation pending more results and annual distributions for listed companies, while liquidity continued to cross the one billion dirhams barrier for the fifth consecutive session. The Dubai market rose by 0.07%, equivalent to 1.88 points, to close at 2,633.48 points, with the rise in banking, investment and transport stocks. The Abu Dhabi market settled at 5,667.03 points, with marginal gains of 0.24 points, with rising telecom and energy stocks.
The shares attracted liquidity by about 1.15 billion dirhams, distributed by 986.8 million in Abu Dhabi and 165.9 million in Dubai. 364.4 million shares were traded, of which 177.3 million were in Abu Dhabi and 187.05 million in Dubai, through 5896 transactions.
The rise of the Dubai market boosted the rise of the banking sector by 0.26% with the growth of “Emirates NBD” by 0.43% and “Dubai” by 1.27%, while “Dubai Islamic” stabilized without change, and the investment sector increased 1.8% with the rise of “Dubai Market” 3.77% and ” Dubai Investments »1.31%, while Shuaa decreased 0.56%.
The transport sector rose 0.16%, after Gulf Navigation rose 2.22% and Air Arabia 1.61%, while Aramex fell 0.95%, while the real estate sector fell 0.85% with Damac dropping 1.56%, Emaar Properties by 1.3% and «Union Properties» 0.73%, while «Emaar Malls» rose 0.6% and «Emaar Development» 0.35%.
«Emaar Properties» led the activity, attracting 27.2 million dirhams, followed by «Dubai Islamic», about 25.3 million dirhams, and then «Dubai Financial Market» 16.9 million dirhams. “Oman Insurance” achieved the largest increase, by 7.69%, while “Ithmaar Holding” was the lowest, by 4.72%. Arab and Gulf investors and citizens tended to buy with a net investment of 11.78 million dirhams, while foreign investors tended to sell.
Abu Dhabi Market
The Abu Dhabi market stabilized with the telecom sector rising by 0.4% with the rise in the share of “Etisalat” by the same percentage, while the energy sector increased by 0.36% with the rise of “Dana Gas” 1.01% and “TAQA” 0.7%, while the banking sector decreased 0.21% with the decline of “Abu Dhabi.” First, 0.13%, Abu Dhabi Commercial, 0.6%, and Abu Dhabi Islamic, 0.81%.
The real estate sector fell 0.21%, with “Aldar” falling 0.27%, while “Ras Al Khaimah Real Estate” rose 0.94%, and the investment sector marginally decreased by 0.03%, with “Waha Capital” declining by 0.81%, the stability of “Al Alamiah Holding” and the rise of “Ishraq” 1.36%.
«Aldar» dominated the activity, attracting 288.2 million dirhams, followed by «First Abu Dhabi» 275.5 million dirhams, then «International Holding» 172.5 million dirhams. “Gulf Cement” achieved the largest increase by 5.06%, while “Ras Al Khaimah Cement” was the lowest by 1.37%.
Arab and Gulf investors and citizens bought 51.3 million dirhams, while foreign investors tended towards liquidation and sale.
Institutions tended towards buying in the Dubai market, with a net investment of 7.9 million dirhams, and towards selling in Abu Dhabi with a net investment of 13.24 million dirhams, while individual investors tended towards liquidation in Dubai with a net investment of 7.9 million dirhams, and towards buying in Abu Dhabi with a net investment of 13.24 million dirhams.
Follow the economic statement via Google News