Monday, June 17, 2024

The market capitalization of Dubai-listed stocks rises to Dh633 billion

Date:

The Dubai Financial Market Index rose 0.31% to close at 3741.51 points at the end of yesterday’s trading hours, as the market capitalization of listed stocks increased from 631.965 billion dirhams to 632 billion dirhams. , with an increase in risk appetite and the direction of investors’ attention. Business results to look for new offers after the season is over.

The Dubai Financial Index ended yesterday’s trade higher, registering a total of 385.10 million dirhams.

Supporting the market rally were “Emaar Properties” which rose 1.76% to top the liquidity list with 154.58 million dirhams, “Gulf Navigation” which rose 0.14% with a liquidity of 34.026 million dirhams, and “Dubai Islamic” which gained 0.19% with a liquidity of 29.26 million.

The Abu Dhabi Securities Market Index fell 0.034% to close at 9,272.62 points. The market capitalization of Abu Dhabi-listed stocks fell to Dh2.764 trillion.

At the end of the session, the Dubai and Abu Dhabi markets attracted more than 1.27 billion dirhams in liquidity with a trading volume of 289.55 million shares by executing 21.38 thousand transactions.

The Abu Dhabi market index also fell at the end of Tuesday’s session, trading at a total of 884.68 million dirhams.

It was followed by shares of International Holding Company, which fell by about 0.08%, with liquidity of about 227.4 million dirhams, and shares of Abu Dhabi Commercial, which fell by 1.39%, with liquidity of 50.59 million dirhams, and shares of Multiplay Group, which fell by 63%. Cash flow reached 77.67 million dirhams.

In turn, Century Financial’s chief market analyst, Aaron Leslie John, confirmed that the fall in the Abu Dhabi Securities Market index was due to a number of reasons. He pointed out that although the Dubai market index has seen declines throughout the month, it is up 13% so far this year and remains firmly on track for its best performance since 2021. The performance of the Dubai financial market is a testament to the resilience and strength of the economy of the Emirate of Dubai. The Dubai stock market index is considered a safe haven amid geopolitical and macroeconomic turmoil, with huge room for further upside.

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

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