The Dubai Financial Index stabilizes at its highest level in 10 years

The Dubai Financial Market consolidated its gains during the first three sessions of this week, as its market capitalization gained about 10.92 billion dirhams, amid a focus on blue-chip stocks and traders waiting for the start of the annual disclosure season for listed companies.

The market capitalization of listed shares rose from 876.984 billion dirhams at the end of last week to more than 887.907 billion dirhams at the end of yesterday’s session.

Since the beginning of the week, the market index rose by 0.52%, equivalent to 26.38 points, to the level of 5083.68 points from the level of 5057.30 points, thus remaining stable at its highest levels in more than 10 years.

On a daily level, the Dubai Financial Market continued to reap new gains, as the market’s general index rose by 0.065% at the end of yesterday’s trading, after trades worth 243.64 million dirhams, while the Abu Dhabi Securities Market index “Fadji” declined by 0.2%, reaching the level of 9414.96 points. With trades worth 719.22 million dirhams.

According to Dubai Financial data, the total amount of purchases from foreign investors’ transactions during yesterday’s session amounted to about 26.85 million dirhams, after purchases worth 81.517 million dirhams, and sales worth 54.662 million dirhams.

The value of citizens’ “sales” of shares in the Dubai market amounted to about 188.975 million dirhams, compared to “purchases” worth 162.121 million dirhams, so that the total “sales” amounted to 26.854 million dirhams.

Institutions also tended to sell at a value of about 101.609 million dirhams, compared to “purchases” worth 95.915 million dirhams, so that the net institutional investment “sold” amounted to about 5.694 million dirhams.

The value of individual purchases of shares amounted to 147.723 million dirhams, compared to sales amounting to about 142.028 million dirhams, so that the total “purchase” amounted to about 5.695 million dirhams.

In addition, the financial advisor, Mahmoud Atta, said that the Dubai Financial Market was able to reap new billion-dollar gains in light of its success in attracting more local and foreign investors, amid expectations for listed companies to receive lucrative cash dividends, pointing out that one of the reasons for strengthening the position of the Dubai market in the Gulf since the beginning This year, there are strong financial results for leading companies and expectations for further growth.

Atta expected the Dubai Financial Market Index to rise and head to 5,250 points, and then to higher levels with the support of selective purchasing with the start of disclosing the annual business results of listed companies.

. The market index rose 0.52% since the beginning of the week to touch the level of 5084 points.