“Dubai Financial” records the highest level since 2008

The Dubai Financial Market, at the end of yesterday’s transactions, has reached the highest level it reached since the January 16, 2008 session, to climb its public index by 2.15% or 128.66 points at 6103.09 points, supported by the rise in leadership stocks in the “banks” and “real estate” sectors.

The market capital of the Dubai Financial Market rose from 1.037 trillion dirhams, at the end of Wednesday’s session, to 1.057 trillion dirhams at the end of yesterday’s session, with gains of 19.97 billion dirhams.

Local stock markets attracted liquidity of about 2.5 billion dirhams, while liquidity was distributed by 967.32 million dirhams in the Dubai Financial Market, and 1.53 billion dirhams in the Abu Dhabi Securities Market, after circulating 735.61 million shares through the implementation of more than 53.97 thousand transactions.

The rise of the Dubai Financial Market supported the shares of the financial sector by 3.94%, real estate by 2.01%, and the industry by 1.63%.

The shares of 21 companies listed in the Dubai Financial Market, led by Dubai Commercial Bank by 11%, closed at 9.99 dirhams, and the share of “ISTA” by 5.93% at 0.27 dirhams and trading approximately 41.2 million shares, and the arrow of the Mashreq Bank ascended by 5.28%.

The market performance also supported the share of Emirates NBD by 3.98%, to reach 27.45 dirhams and trading approximately 4.15 million shares, in addition to the increase in “Arab Air” share by 3.94% to 3.69 dirhams.

In the Abu Dhabi Securities Market, the general index increased by 0.65% or 66.16 points at the level of 10242.49 points, to the highest level since the eighth of December 2022.

The market capital of the market rose from 3.11 trillion dirhams at the end of Wednesday’s session to 3.13 trillion dirhams at the end of yesterday’s session, with gains of 12.68 billion dirhams.

“The Emirati financial markets are witnessing momentum, with the support of strong business results expectations for companies, in addition to the attractive investment environment that contributes to attracting foreign capital and investors from wealth around the world.”

He added to «Emirates Today» that the positive indicators in the Dubai Financial Market, especially the increase in the general index by more than 2%, is mainly due to the strong performance of leadership shares, foremost of which is Emaar Real Estate, which reached a record and closed at 14.95 dirhams.

Batainah expected that the UAE financial markets continue to record new historical levels, in light of liquidity flows and the rise in “purchase appetite” in foreign investors, as well as additional support from the results of the expected companies for the first half of 2025.

In the same context, the expert in the financial markets, Wael Mahdi, stressed that the launch of the season of announcing business results for the first half of this year will enhance the performance of Emirati financial market indicators, and push them towards new record levels, supported by increasing momentum during the coming period.

Mahdi pointed out that the announcement of the special profits distributions of companies, which adopts the semi -annual distribution policy, will have an additional positive impact on the market, and opens the door to new standard levels.

He added that the improvement in trade relations between the United States and China, and the rapprochement of views on customs duties, reflected positively on the performance of Chinese markets, which contributes to enhancing the stability of local markets and raising the appetite of investors.