Dubai market profits 1.8 Billion Dirhams with the support of “EMAAR Properties”.
The Dubai Financial Market index rose by 0.30%, or the equivalent of 12.9 points, to the level of 4275.38 points yesterday, giving the market a profit of more than 1.8 Billion Dirhams, supported by the share of “EMAAR Properties”, which rose 2.2% at 8.4 Dirhams.
The market capitalization of Dubai’s listed shares rose from 724.2 Billion Dirhams at the end of last Friday’s session to 726 Billion Dirhams at the end of yesterday’s session. “Al-Firdous Holding” shares led the rise of 21 shares in the Dubai Financial Market, while “EMAAR Properties” shares acquired liquidity exceeding 77.5 Million Dirhams, followed by “Emaar Development” with liquidity of 50.4 Million Dirhams, then “Empower” with 43.3 Million Dirhams.
The performance of the Dubai market was supported by the rise in the shares of “GFH Financial” by 1.94%, “Dubai Investments” by 1.8%, “Air Arabia” by more than 1%, and “Dubai Islamic” by 0.52%. Non-Arab foreign investors tended to buy in the Dubai market with a net investment of 63.8 Million Dirhams in yesterday’s session, after achieving purchases worth 137.2 Million Dirhams, compared to sales of about 73.4 Million Dirhams.
The Dubai Financial Market announced updating the weights of the companies included in the general index according to the quarterly review, starting from the trading session on Monday, March 18th. Emirates Dubai Islamic Bank, Dubai Islamic Bank, EMAAR Properties, and Dubai Electricity and Water Authority (DEWA) ranked first as the companies with the largest weight in the index with about 10%, followed by Commercial Bank of Dubai with 6.5%, Air Arabia with 5.97%, Dubai Investments with 5.57%, and EMAAR Development. 5.43%.
The FTSE Abu Dhabi General Market Index, “FADGI”, rose by 0.73% to the level of 9288.83 points in yesterday’s trading, giving the market a profit of about 16 Billion Dirhams. “International Holding” topped the activity in the Abu Dhabi market with the largest share of total trading with more than 199 Million Dirhams, followed by “Alpha Dhabi Holding” attracting 75.5 Million Dirhams, then “Multiplay” with liquidity of 49 Million Dirhams. In the Abu Dhabi market, shares of E-7 rose by 4.2%, Emsteel Building Materials by 3.7%, Gulf Cement by 3.6%, and Energy by 3.2%.
Local stock markets added gains of about 17.84 Billion Dirhams to their market capitalization in 5 sessions, supported by gains in leading stocks in the Dubai and Abu Dhabi markets.
The market capitalization of listed shares rose from 3.588 Trillion Dirhams at the end of last Friday’s session to 3.606 Trillion Dirhams at the end of yesterday’s session, distributed by 2.880 Trillion Dirhams for shares listed on the Abu Dhabi Securities Market, and 726 Billion Dirhams for shares listed on the Dubai Financial Market. Local stocks attracted liquidity of approximately 1.33 Billion Dirhams, distributed by 940.02 Million Dirhams in the Abu Dhabi market, and 389.6 Million Dirhams in the Dubai market.