Dubai, UAE – UAE financial market indices rose during last week’s trading (4 sessions). The Dubai Financial Market index jumped by 3.52%, while the Abu Dhabi Securities Market index rose by about 2.16%. Local markets recorded gains estimated at about 106.82 billion dirhams during last week’s trading. After attracting liquidity worth 15.37 billion dirhams.
Two financial analysts confirmed that the UAE’s financial markets witnessed positive interaction during the past week. Investors were optimistic about a memorandum of understanding aimed at ending the war between the United States and Iran. Reopening the Strait of Hormuz will inject strong liquidity into stocks, given the flexibility and high confidence enjoyed by local markets by local and foreign investors.
They pointed out that the gains achieved by the markets came with support from various sectors, most notably the real estate sector, which is based on strong fundamentals. Solid operational performance of listed companies, in addition to the flexibility of government economic policies and rapid response to challenges and crises. Through ongoing support packages for various economic sectors.
They expected the flow of liquidity to continue and the indicators to achieve more gains during the coming period in light of the optimism and improved appetite of investors. Especially after it exceeded important technical and record levels that support the upward trend.
Dubai Financial Market.. Rise of 5 sectors
The Dubai Financial Market closed last week’s trading (4 sessions), up by 3.52%, or 209.46 points, at 6163.5 points. Supported by the rise of five sectors, led by real estate, industry and banking.
Dubai Financial’s market capitalization rose to AED 1.008 trillion by the end of the week’s session, Friday. Compared to 975.616 billion dirhams at the end of the previous week’s trading, with gains amounting to about 32.42 billion dirhams.
Market performance supported the rise of five sectors, with real estate rising by 8.04% and industry by 3.74%. In addition, the banking sector rose by 2.87%, public utilities by 2.48%, and basic consumer goods by 5.04%.
During the past week, stocks listed on the Dubai Financial Market attracted liquidity exceeding 6.47 billion dirhams, after trading about 1.61 billion shares and executing 97,272 transactions.
During last week’s trading, foreign (non-Arab) investors in the Dubai Financial Market tended to buy, with a net investment amounting to about 737.17 million dirhams. After recording purchases worth 3.586 billion dirhams, compared to sales worth 3.08 billion dirhams.
Abu Dhabi Securities Exchange
The Abu Dhabi Securities Market also ended last week’s trading (4 sessions) up by 2.16%, closing at 10,016.82 points.
The market’s capitalization rose to about 2.92 trillion dirhams at the end of last week’s session, Friday, compared to 2.85 trillion dirhams at the end of the previous week’s trading. With gains exceeding 74.4 billion dirhams.
During last week’s trading, stocks listed on the Abu Dhabi market attracted liquidity exceeding 8.9 billion dirhams. After trading approximately 2.54 billion shares and executing 169,221 transactions.
