January 29, 2023

Dubai Week

Complete Dubai News World


148 billion increase in Dubai market capitalization

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After listing the shares of the Dubai Electricity and Water Authority (DEWA) last week, the Dubai financial market continued its gains for the fourth week in a row, adding 148 billion dirhams and bringing its market capitalization to 584 billion dirhams.

The Dubai market ended 1.7% higher at 3601.67 points, while shares of banks, real estate and transport rose, while the Abu Dhabi market fell 1.5% to 9943.8 points, with financials and leading stocks declining. Department of Communications.

Shares worth $ 8.28 billion in Abu Dhabi and $ 4.3 billion in Dubai attracted strong cash flow of about 12.6 billion dirhams, while 3.56 billion shares traded at $ 1.78 billion in Abu Dhabi and $ 1.780 billion in Dubai, trading at 128.5. A thousand contracts.

Deva topped the Dubai market with 2.15 billion dirhams in 4 trading sessions since its listing on April 12, and it rose 16.13%, followed by “Emaar Properties” 820.3 million dirhams, followed by “Dubai Financial Market” 420 million dirhams.

The rise in the Dubai market was supported by the growth of the banking sector, with “Dubai Islami” growing by 1.95%, Emirates NBD by 2.07% and Amlak by 6%, with the real estate sector rising. “Emaar Properties” increased by 1% and “Emaar Development” by 8%, “Etihad Properties” by 6% and “Deyaar” by 1.3%, as well as the transport sector, “Air Arabia” by 8.9% and “Aramex” by 1%. , Compared to a 0.37% decline in “Gulf navigation”.

In addition, capital market pressure fell by 6.54% on “Abu Dhabi” and 2.62% on “Abu Dhabi Commercial”.

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Foreign investors sought to buy Abu Dhabi with a net investment of 614.6 million dirhams, while Arab investors and citizens in Dubai sought to buy with a net investment of 346.4 million dirhams. The performance of the companies was different as it sought to buy in Abu Dhabi with a net investment of 338.7 million dirhams and was dissolved in the Dubai market with a net investment of 465 million dirhams.