“Dubai Financial” to the highest level in 17 years

Local financial market transactions witnessed strong trading over five consecutive sessions, the best of which was the session of the beginning of the week, as the general index of Dubai Financial Market rose to its highest level in 17 years, driven by a strong performance of shares such as “cooling” and “Emaar”.
The market value of the Dubai Market shares increased to its highest level ever, recording 985.6 billion dirhams, at the end of yesterday’s trading, compared to 974.9 billion dirhams at the end of the Thursday session, corresponding to June 26, with a weekly increase of 10.7 billion dirhams, while the market value of the Abu Dhabi Securities Market shares remained at approximately 3.083 trillion dirhams.
Local stock markets have expressed strong cohesion and stability, despite American monetary policy factors and the monitoring of US customs developments expected on the ninth of this July, which cast a shadow over the behavior of investors that somewhat cautious.
During the past week, the markets witnessed a strong return to foreign investors and companies of financial institutions after a period of anticipation.
The shares of the technology, real estate, banking and industry sectors came at the forefront of the higher shares throughout the week.
During the unilateral weekend session, the Dubai Financial Market Index closed five points, at the level of 5753 points, and with trading with a total value of 458 million dirhams.
The shares of 20 companies out of 54 companies whose shares were traded, while the shares of 25 companies decreased, so the shares of nine companies remained stable.
Emaar Real Estate shares closed stability at 13.95 dirhams, with trading approximately nine million shares, while the share of Dubai Financial Market increased by 1.8% at 1.72 dirhams, and with trading approximately 24 million shares.
The share of Dubai Financial Market, its highest price in three years, was recorded during the weekend session, at 1.76 dirhams.
The Abu Dhabi Securities Market Index also increased during yesterday’s session, by 0.8%, at the level of 9982 points, and with trading with a total value of 2.08 billion dirhams.
Of the 94 companies whose shares were traded, the shares of 35 companies rose, while the shares of 44 companies decreased, and the shares of 15 companies remained stable.
Commenting, the financial expert, Abdel -Qader Shaath, said, “The most important characteristic of the Dubai and Abu Dhabi markets is the continuation of positivity, especially in the Dubai market, which recorded the best quarterly closure of 17 years ago, with large trading volumes with the support of the real estate and banking sectors, especially the arrow (Emaar) and (Emirates NBD).
He added that «trading in the Abu Dhabi market is still billions, with some shares achieved record heights, such as (Abu Dhabi Islamic), the arrow of (Abu Dhabi Commercial) and the arrow of (Abu Dhabi I), as all of these shares have touched levels that have not been achieved for several years.
Shaath stressed that «the performance of the local financial markets during the first half of this year was the best in the region, which reflects the confidence of investors and the governor, whether local or foreign», noting that “the market value of the Dubai market exceeded in one of the sessions last week a trillion dirhams for the first time in the history of the market, as well as the distinguished performance of the general indicator.”
He also pointed out that “the Abu Dhabi Market Index is approaching the level of 10 thousand points, which is its highest level ever, which promises more positive and support during the second half of this year.”

. 985.6 billion dirhams the market value of “Dubai Financial” at the end of the week’s transactions.