Dubai, United Arab Emirates – The Dubai Financial Market continued its gains over the past week.
This is for the fourth week in a row, supported by the performance of leading stocks in the banking and real estate sectors.
The market index rose by 1.24%, or 74.05 points, to close weekly trading at 6,066.23 points.
Dubai Financial’s market capitalization rose to about 1.047 trillion dirhams by the end of the week’s session, Friday.
Compared to 1.03 trillion dirhams at the end of trading the previous week, with gains amounting to about 17 billion dirhams.
Market performance during last week’s trading supported the growth of real estate sector stocks by 2.98%, and banks by 1.21%.
Emaar Properties shares rose by 5.47%, GFH by about 5.49%, Emirates NBD by 3.73%, and Ajman Bank by 3.6%.
Dubai Investments shares also rose by about 1.68%, and Dewa shares grew by about 1.82%.
In addition, Dubai Islamic Bank shares rose by 1.67%, and Emaar Development by about 1.37%.
During last week’s trading, shares listed on the Dubai market attracted liquidity exceeding 2.71 billion dirhams, after trading about 686.87 million shares and executing 57.92 thousand transactions.
Foreign (non-Arab) investors in the Dubai Financial Market tended to buy with a net investment of 339.15 million dirhams.
This came after they recorded purchases worth 1.374 billion dirhams, compared to sales worth 1.035 dirhams.
For its part, the Abu Dhabi Securities Market ended last week’s trading up 0.76% to close at 10,201.57 points.
The market’s capitalization rose to about 3.1475 trillion dirhams at the end of last week’s session, compared to 3.1332 trillion dirhams at the end of the previous week’s trading, with gains of 14.28 billion dirhams.
During last week’s trading, stocks listed on the Abu Dhabi market attracted liquidity exceeding 5.56 billion dirhams, after trading about 1.3 billion shares and executing 96.88 thousand transactions.
The performance of the Abu Dhabi market in one week was supported by a rise in the shares of “Abu Dhabi Ports” by 13.91%, “Umm Al Quwain Bank” by 8.89%, and “Abu Dhabi Commercial” by 5.46%.
Amstel shares also rose by about 5.17%, First Abu Dhabi Bank shares grew by about 4.27%, and ADNOC Supply and Services shares grew by 4.06%.
