Friday, May 24, 2024

“Dubai Financial” reaches highest level in 8 years

Date:

By the end of yesterday’s trade, local bourses attracted liquidity of about 1.75 billion dirhams, while the market capitalization of the Dubai Financial Market gained more than 12.14 billion dirhams, surpassing its highest level in eight years, supported by gains. Leading stocks and “Banks” in “Real Estate” sectors.

After 410.29 million shares were traded by executing more than 24.38 thousand transactions, liquidity was distributed in the Abu Dhabi Securities Market of 986.8 million dirhams and 768.32 million dirhams in the Dubai Financial Market.

The Dubai Financial Market General Index rose 1.56%, or 63.68 points, to end at 4138.4 points, its highest level since August 2015, and the Abu Dhabi General Market Index (FADGI) edged up 0.003%. 9822.56 points level.

The Dubai financial market’s performance strengthened, with shares of “Emaar Properties” rising 5.2% to close at a 9-year high, and shares of “Emirates NBD” rising 3.9% and shares of “Emaar Development” up around 5.5%. , and “Dubai Islamic” shares. 0.7%.

Emaar Properties shares topped the performance, attracting more than Dh337.3 million in liquidity.

Responding to this, General Manager of Al Ansari Financial Services Company, Abdul Qader Shad told “Emirates Today”: “It can be said that the financial markets were remarkable yesterday due to the rise of the Dubai Financial Market. Over the past 8 years, Emaar Properties has been heavily supported by the company’s share price rise.” A rally in shares of ADNOC Logistics supported the Abu Dhabi securities market yesterday and pushed it to close in the green zone. 4%, and ADNOC Drilling 1.84%.

See also  The Kuwaiti people are facing huge losses in cryptocurrencies

Aaron Leslie John, Chief Market Analyst, Century Financial, said, “The Dubai Financial Market Index hit an 8-year high in early trade and crossed 4100 points, supported by gains in leading stocks. Light of the real estate boom the emirate is witnessing.” “Confidence in the country’s economic growth in general has increased according to recently announced indicators.”

In the same context, equity investment expert Mahmoud Atta pointed out that one of the most important reasons for improving the gains of the Dubai financial market is that listed companies have recorded consistent and good profits compared to stock markets in the region. The banking and real estate sectors, which are characterized by strong financial and operational fundamentals, are attractive stocks for portfolio investors in addition to foreign investment funds.

Organizing World Investors Conference in Singapore

The Dubai Financial Market yesterday announced the third session of the 2023 Global Investors Conference in Singapore, giving investors an opportunity to meet senior representatives of the Dubai market in Singapore.

The conference will be held on September 27 and 28 in collaboration with Goldman Sachs within the framework of the Singapore Corporate Days 2023 initiative, the market said in a statement, confirming Dubai Financial Market’s commitment to expanding the scope of global communication and interaction. Investors, to demonstrate the strength of the capital markets in the Emirate of Dubai.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:

Popular

More like this
Related

Cost-effective drilling: how to reduce operational expenses by smart equipment choices

Drilling costs affect the profitability and sustainability of oil...

Navigating the World of Cryptocurrencies: How to Choose the Best Crypto Wallet

In the digital age where cryptocurrencies are rapidly gaining...

Unlock the easiest way to get EU citizenship of Slovenia and Romania with Union Permits

Due to the nature of their immigration programs, Slovenia...

The Ultimate Guide to Men’s Facials in Dubai

In the bustling city of Dubai, where the sun...