Tuesday, March 5, 2024

Banks and real estate support local stock indices


Youssef Al Bustanji (Abu Dhabi)

UAE financial markets continued to attract more cash flow to trade with a value of 2.27 billion dirhams during yesterday’s trading session in Abu Dhabi and Dubai markets.
Business focused on the financial and real estate sectors in both markets, and the leading companies accounted for the largest share of business value.
The trading session saw the random closure of local financial markets as the capital market Abu Dhabi closed at 9994.7 points, down 0.849% in the “red” area, due to the pressure of gains on stocks. “First Abu Dhabi” and “Etisalat”.
The total trade value of the Abu Dhabi market was 1.818 billion dirhams, distributed over 11474 transactions, and the effect of trade was to reduce the market value to 1.87 trillion dirhams.
Shares of International Holding traded at 331 million dirhams, and the stock rose 0.11% to close at 188.3 dirhams. , An increase of 0.83%.
Shares of Abu Dhabi Commercial Bank rose 1.34% to close at 10.6 dirhams during the trading session. Etisalat, meanwhile, fell 3.58% to 37.22 dirhams and the first Abu Dhabi Bank fell 0.25% to 23.88 dirhams.
The Abu Dhabi market saw net sales of foreigners worth 51 million dirhams, and sales activity was concentrated by Gulf investors, whose trade recorded a net sale of 50.5 million dirhams.
In the Dubai financial market, the trading value was 441 million dirhams, which were executed through 4256 contracts, and the market closed 0.44% higher at 3515.34 points in the “green” region.
Emaar Properties shares supported the Dubai financial market, up 1.88% to 5.94 dirhams, while Dubai Islamic Bank rose 0.99% to 6.09 dirhams.
In addition, the Dubai financial market rose 2.19% to 2.79 dirhams.
Shares of Emirates NBD Bank, on the other hand, fell 1.01% to close at 14.65 dirhams.
With regard to foreign investment in the Dubai Financial Market, the value of foreign, non-Arab, stock purchases is around 101.9 million dirhams while their sale value is about 95.2 million dirhams.
Gulf non-Arab investors have a purchase value of about 28.9 million dirhams and their sales value of about 28.8 million dirhams.
For Gulf investors, their purchase value is 30.3 million dirhams, while their sale value is 23.2 million dirhams. As a result of these improvements, the total purchase value of the shares of foreign and non-Emirati holders was approximately 161.1 million dirhams, or 36.555% of the total purchase value, while their total sale value was 147.3 million dirhams. 33.428% of the total purchase value. Sales value, net foreign investment at 13.78 dirhams, purchase income.

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Nadia Barnett
Nadia Barnett
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