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– The Dubai market is rising to its highest level in 11 and a half months… and the Abu Dhabi market is achieving the largest daily gain since mid-March.
From: Ramy Samih
Abu Dhabi, April 27: The capitalization of local shares exceeded the barrier of 3.4 trillion dirhams at the close of trading today, for the first time in its history, supported by the gains of bank shares, with the successive announcement of record profits in the first quarter of this year.
The market capital of listed shares rose from 3.396 trillion dirhams at the end of yesterday’s session to 3.409 trillion dirhams at the end of today’s session, distributed by 2.79 trillion dirhams for shares listed on the Abu Dhabi Stock Exchange and 618.78 billion dirhams for shares listed on the Dubai Financial Market.
According to the monitoring of the Emirates News Agency, WAM, the Dubai general market index managed to rise to its highest levels in 11 and a half months since last May, while the Abu Dhabi market indices recorded the largest daily gains in a month and a half, since mid-March.
Local stocks attracted liquidity of about 1.62 billion dirhams, distributed by 1.19 billion dirhams in the Abu Dhabi market and 421.4 million dirhams in the Dubai market, and about 455.9 million shares were traded through the implementation of more than 22.2 thousand transactions.
Abu Dhabi market.
The FTSE Abu Dhabi Market Index, “Fadji”, increased by 0.77%, or the equivalent of 74.79 points, to close at 9,750.75 points, while the Abu Dhabi Market Index, “Fadx 15”, increased by 0.75%, or the equivalent of 72.24 points, to close at 9,625.53 points.
The performance of the Abu Dhabi market was enhanced by an increase in the shares of “First Abu Dhabi” by 3.27%, with the bank announcing a net profit of 3.9 billion dirhams in the first quarter of this year, an increase of 60% compared to the last quarter of last year.
The share of “Abu Dhabi Islamic” grew by about 2.53% after Al-Masry achieved a growth in net profit by 54% in the first quarter of 2023, to reach 1.1 billion dirhams, while the share of “National Ras Al-Khaimah” increased by more than 7%, with the bank recording net profits of $ 450.3 million dirhams during the first quarter of this year, an increase of 105% compared to the first quarter of last year.
Shares of “Multiple Play” also rose 2.86%, “ADNOC Drilling” 1.72%, “VertiGlobe” 1.32%, “Americana” 1.3%, “A&” 1%, “TAQA” 0.93%, “Briseit” 0.93%, and “Yahsat”. 0.78%, Aldar Properties 0.74%, Bayanat 0.5%, ADNOC Distribution 0.46%, Burjeel 0.44%, and Abu Dhabi Ports 0.31%.
And “Al Alamiah Holding” acquired the largest share of trading, with a liquidity of about 234.5 million dirhams, and closed up by 0.03% at 395.1 dirhams, followed by “Emirates Arkan Steel”, attracting about 107.5 million dirhams, then “ADNOC Gas” and “Alfa Dhabi” with a liquidity of 97.4 million dirhams. and 95.7 million dirhams, respectively.
– Dubai market..
The general index of the Dubai Financial Market increased by 0.75%, or the equivalent of 26.13 points, to close flat at the level of 3515.91 points, reaching its highest level since last May 11.
Supporting the gains of the Dubai market, “Emirates NBD” shares increased by 3.73%, as it topped the list of the most active, with liquidity exceeding 99.8 million dirhams, after the bank announced that its profits had doubled to a record level of 6 billion dirhams in the first quarter.
Shares of “Emaar Properties” increased by 1.03%, “Dewa” by 1.64%, “Tecom” by 1.26%, “Dubai Financial Market” by 2.05%, “Dubai Islamic” by 0.74%, “Dubai Investments” by 3.4%, and “Salik” by 1.35%. And “Emaar Properties” ranked second in the list of the most active, with a liquidity of 77.8 million dirhams, followed by “Dubai Financial Market”, attracting about 33.1 million dirhams, then “Salik” with 28.7 million dirhams.
