Dubai Financial begins Ramadan trading with gains of 13 billion dirhams

The Dubai Financial Market closed trading yesterday, the first session of the month of Ramadan, up by 1.21%, or the equivalent of 80.72 points, at the level of 6765.07 points, supported by a collective rise in sector stocks, led by real estate, banks and industry, with the listed companies announcing strong business results for the previous financial year.

The market capitalization of Dubai Financial rose to 1.128 trillion dirhams at the end of yesterday’s session, compared to 1.115 trillion dirhams at the end of trading the day before yesterday, with gains amounting to about 13 billion dirhams.

The market performance supported the growth of shares of the real estate sector by 2.79%, banks by 0.64%, industry by 1.14%, public utilities by 0.77%, in addition to communications by 0.46%.

During yesterday’s transactions, foreign (non-Arab) investors in the Dubai Financial Market tended to buy with a net investment of about 170.44 million dirhams, after recording purchases worth 355.26 million dirhams, compared to sales worth 184.82 million dirhams.

Shares listed on the market attracted liquidity exceeding 821.55 million dirhams, after trading about 225.61 million shares and executing 13,771 transactions.

The shares of six companies listed on Dubai Financial, namely: Emaar Properties, Air Arabia, Emaar Development, Emirates NBD, Dubai Islamic, and Talabat, accounted for 76.22% of the market’s liquidity at the end of yesterday’s trading.

According to market data, the total trading value of the six stocks amounted to about 626.25 million dirhams, while the total trading value in the Dubai Financial Market as a whole amounted to about 821.55 million dirhams.

. 170.44 million dirhams, net foreign investment, after recording purchases of 355.26 million dirhams, compared to sales of 184.82 million dirhams.