Wednesday, April 24, 2024

UAE stocks initially fell due to pressure from key stocks


United Arab Emirates financial markets started today’s trading session with declines under pressure from major stocks, yesterday saw a strong rally, allowing the Abu Dhabi market to consolidate near 9150 points in line with the decline in international oil prices.

The Abu Dhabi market index fell 0.37% to 9,142 points.

The value of trading on the Abu Dhabi Securities Exchange was about 190.13 million dirhams, with 18.36 million shares.

It saw Global Holdings fall 0.07%, while First Abu Dhabi fell 0.75%, and ADNOC Distribution rose 0.24%.

Abu Dhabi Ports fell 0.56%, Multiplay Group rose 1.14%, ADNOC Drilling fell 1.49% and Aldar Properties shed 0.88%.

Global Holding issued 86.1 million dirhams of shares, followed by First Abu Dhabi with 24.21 million dirhams, while Aram issued 3.7 million shares in terms of volume.

At the Dubai Financial Market level, the Dubai Financial Market Index was down 0.31% at 3144 points.

The market’s performance was consistent with Emaar Properties’ stock falling 0.96%, while Dubai Market’s stock fell 1.23%, while Dubai Islamic’s stock fell around 0.54%.

Aramex rose 0.54%, Union Properties fell 1.29%, Teva rose 0.39% and Emaar Development shed 1.2%.

Meanwhile, in the Dubai market, 4 stocks advanced, 11 stocks declined and 3 stocks were stable.

The value of trading in the market reached about 7.27 million dirhams through 2.75 million shares.

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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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