Friday, June 14, 2024

More attraction of “UAE stocks” for investment


Youssef Al Bustanji (Abu Dhabi)

UAE financial markets have improved their attractiveness to local and foreign investors, supported by large inflows of cash to invest in stocks, with 9.08 billion dirhams over the past week, on the one hand, and support on the other. On the other hand in the expectations of economic growth in the current year. Significant gains by the market value of the listed companies recorded record increases in the general indicators as the value of their gains exceeded 41 billion dirhams per week.
The pace of growth of local stock markets has increased over the past week to record new historical and record levels, with investors increasing their interest in buying more shares after most public shareholders reported higher returns than expected.
The Abu Dhabi Securities Exchange general index rose 1.74% to 9,155.3 points last week, reaching a weekly high of 9,248 points, the highest level in its history, surpassing the market record in December. 8, 2021 at 9,077 points. .
The rise came on the back of cash flow in Abu Dhabi’s capital market, which recorded a significant rise during the week as the total trade value was 7.14 billion dirhams.
During the five trading sessions, 1.138 billion shares were traded at the end of 39,160 transactions.
The closing prices of 29 companies increased compared to the decline in prices of 26 companies as a result of the trade, while the prices of 31 companies remained unchanged during the week as compared to the closing prices of the previous week.
As a result of the companies’ trading of about 21.4 million dirhams, net purchases, in terms of volume, it shows a net sale of about 9.3 million shares, which indicates that companies are moving further and further towards investing in Blue-chip. Companies and heavy stocks, individuals tend to buy smaller stocks.
Abu Dhabi Securities Exchange data shows that the general index and prices received huge support from the flow of foreign currency (non-Arabs and Gulf nationals) during the week’s trading sessions, as their total trade was 379 million dirhams, net purchases. , And they accounted for 15.8% of the total trade value in the capital market.The total value of Abu Dhabi and their trade during the five sessions was approximately 2.26 billion dirhams.
For Gulf investors, their trade recorded a net sales value of 44.5 million dirhams, while Arab investors recorded their trading net sales of 10.9 million dirhams.
Shares of “International Holding” closed at 187.9 dirhams and the first Abu Dhabi Bank at 20.70 dirhams and “Aldar Properties”, with major stocks gaining significant momentum in the Abu Dhabi market. “At the level of 4.22 dirhams.

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Dubai Market
In the Dubai financial market, the value of trade during the five sessions last week was around 1.94 billion dirhams, indicating a significant increase in cash flow in the market.
The market value was 419.6 billion dirhams, according to official closing prices at the close of trading on Friday weekend.
Dubai Financial Market data shows that foreign investors recorded intense trading activity last week, with the foreign purchase value of the stock being around 976 million dirhams, which is about 50.41% of the total purchase value.
The value of overseas share sales during the same period was about 630 million dirhams, which is 32.57% of the total sale value. As a result, net foreign investment came to about 345 million dirhams through the sale.
On the other hand, the value of shares purchased by institutional investors last week was about 1,050 million dirhams, which is 54.24 per cent of the total trading value. In contrast, the value of shares sold by institutional investors during the same period was about 760 million dirhams, which is 39.25% of the total trading value.
As a result, net institutional investment during this period was approximately 290 million dirhams, with proceeds from sales.
Shares of “Emaar Properties” ended at 5.10 dirhams, while Dubai Islamic Bank ended at 5.91 dirhams and Emirates. NBD Bank shares 13.80 dirhams.

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

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