• Sun. Apr 14th, 2024

The UAE stock market sees green as liquidity hits 1.47 billion dirhams.

BySamantha Johnson

Apr 3, 2024
The UAE stock market sees green as liquidity hits 1.47 billion dirhams.

UAE stocks saw continued gains on Tuesday, aided by leading real estate companies in Dubai and major banks in Abu Dhabi. Most other leading stocks remained stable, with some companies seeing partial profits. The Dubai market index rose by 0.14% to 4269.4 points, while the Abu Dhabi market index went up by 0.08% to 9252.61 points. Foreign (non-Arab) investors contributed a net investment of 126 million dirhams, with 94.7 million dirhams in Dubai and 31.1 million dirhams in Abu Dhabi.

In Dubai, shares of “Emaar Properties” and “Emaar Development” continued to rise, while “Union Properties” experienced a slight decline. In Abu Dhabi, bank shares like “First Abu Dhabi” and “Abu Dhabi Commercial” supported the market index. Liquidity in the markets totaled 1.47 billion dirhams, with 988 million dirhams in Abu Dhabi and 483.7 million dirhams in Dubai. Trading saw 526 million shares exchanged, with 281.3 million shares in Dubai and 244.7 million shares in Abu Dhabi.

The Abu Dhabi market index saw increases in sectoral indices for financial, communications, and health care stocks, while energy and industry saw declines. In the financial sector, “Investcorp” shares rose, while “Multiplay” declined. In terms of communications, “Etisalat E&” and “Yahsat” saw increases. Energy sector companies like “Dana Gas” and “ADNOC Distribution” experienced declines. Real estate and health care sectors also saw mixed movements.

In Dubai, the market index rose with increases in the real estate sector and stability in banks, while utilities and industrial sectors declined. “Emaar Properties” and “Emaar Development” stocks rose, while “Union Properties” and “Deyaar” declined. The utilities sector saw decreases in “Empower” and “Tabreed” shares. Liquidity was led by transactions in “International Holding” and “Alpha Dhabi” in Abu Dhabi, and “Emaar Properties” in Dubai.

In terms of trades by nationalities in the Abu Dhabi market, Gulf and foreign investors leaned towards buying, while Arab investors and citizens tended towards liquidation. In Dubai, similar trends were observed with Gulf and foreign investors buying and Arab investors and citizens selling. Investment portfolios leaned towards buying, while individual investors tended towards liquidation.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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