May 30, 2023

Dubai Week

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UAE stocks continued to rise, with gains of 5.6 billion dirhams

UAE stocks continued to rise, with gains of 5.6 billion dirhams

Local stock markets consolidated its gains for the second consecutive session at the end of trading today, and its market capitalization gained nearly 5.6 billion dirhams. The market capitalization of listed stocks increased from 2.668 trillion dirhams to 2.674 trillion dirhams at the end of yesterday’s session, with 2.11 trillion dirhams distributed to stocks listed on the Abu Dhabi Stock Exchange and 564 billion dirhams to stocks listed in Dubai. . The FTSE Abu Dhabi general index rose 0.2% to end at 10,156.56 points, its highest level since April 11, while the Dubai Financial Market general index rose 1.1% to end at 3,385.47 points, its highest level since June 8. , two months ago. Local shares attracted liquidity of over Dh1.82 billion, with 1.48 billion dirhams in the Abu Dhabi market and 339.7 million dirhams in the Dubai market. The upsurge of the Abu Dhabi market led to leading shares such as “First Abu Dhabi” rising 0.91% to 20 dirhams, liquidity around 188.8 million dirhams and “ADNOC Distribution” rising to 4.09. %, “Multiplay” 3.45%, “Borough” 2.34%, and “Adnok Distribution” 2.34%. Abu Dhabi Islamic” 1.79%, “Altar Properties” 1.64%, and “Abu Dhabi Commercial” 1.13%. “ADNOC Drilling” shares increased by 1.96% as the company reported strong growth in its net profit in the first half of the year by 34% to 1.39 billion dirhams, while “Yahsat” shares increased by 0.75%. In its history, the company announced that it received 755 million dirhams in the first half of the year. Dubai market’s gains were led by real estate stocks “Emaar Properties” which rose 2.38% and topped the performance list with cash flows exceeding 120.9 million dirhams, along with “Emaar Development” 2.29% and “Tecom” 2.09%. Banking, investment and utility stocks were also active, with shares of “Dubai Islamic” up 1.35%, “Dubai Financial Market” up 1.57% and “DEWA” up 0.4%, while shares of “Emirates NBD” and “Dubai Investments” rose. remained unchanged.

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