UAE shares add 58.27 billion dirhams to its market capitalization

Yesterday, UAE financial market indices continued to rise for the fourth session in a row, as the Dubai Financial Market index jumped 2.51%, while the Abu Dhabi Securities Market index rose 1.17%, with local stock markets recording gains estimated at about 58.27 billion dirhams, supported by the performance of leading stocks, led by shares of the banking, real estate and energy sectors.

The market capitalization of stocks listed in the two markets rose from about 3.93 trillion dirhams at the end of trading the day before yesterday, to about 3.99 trillion dirhams yesterday, distributed by 2.95 trillion dirhams for stocks listed on the Abu Dhabi market, and 1.034 trillion dirhams for stocks listed on the Dubai market, and local stocks attracted liquidity exceeding 4.34 billion dirhams, distributed At 1.72 billion dirhams in the Dubai market, and 2.62 billion dirhams in the Abu Dhabi market, after trading 1.22 billion shares, through the implementation of more than 74 thousand and 76 transactions.

In detail, the Dubai Financial Market closed trading yesterday with an increase of 2.51%, or the equivalent of 153.54 points, at the level of 6269.51 points, continuing its gains for the fourth session in a row, supported by the rise in the shares of the listed leading sectors, led by banks, real estate, and industry.

The market capitalization of Dubai Financial rose to about 1.034 trillion dirhams at the end of yesterday’s session, compared to about 1.005 trillion dirhams at the end of trading the day before yesterday, with gains amounting to about 28.55 billion dirhams.

The market performance supported the growth of shares of five sectors, led by the banking sector shares by 3.39%, reacting positively to the decision of the UAE Central Bank to set the interest rate at 3.65%, real estate by 2.62%, industry by 2.72%, public utilities by 1.83%, in addition to communications by 0.52%.

During yesterday’s transactions, foreign investors (non-Arabs) continued their purchasing trend, with a net investment amounting to about 288.48 million dirhams, after recording purchases worth 843.05 million dirhams, compared to sales worth 554.57 million dirhams.

Shares listed on the market attracted liquidity exceeding 1.72 billion dirhams, after trading about 452.03 million shares and executing 25,916 transactions.

The shares of six companies listed on Dubai Financial, namely Emaar Properties, Emirates NBD, Emaar Development, Talabat, Air Arabia, and Dubai Islamic Bank, accounted for more than 80.66% 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 1.39 billion dirhams.

In addition, the Abu Dhabi Securities Market ended trading yesterday with an increase of 1.17%, or the equivalent of 117.28 points, to close at 10,113.48 points, for the fourth session in a row, the highest level in more than three months.

The market capitalization of listed stocks rose to about 2.958 trillion dirhams, at the end of yesterday’s session, compared to about 2.928 trillion dirhams at the end of trading the day before yesterday, with gains amounting to about 29.72 billion dirhams.

During yesterday’s trading, shares listed on the market attracted liquidity exceeding 2.62 billion dirhams, after trading about 770.08 million shares and executing 48,160 transactions.