The UAE stock indices achieved positive performance in the mid-week session, amid strong performance of leading stocks in various sectors, especially real estate and banking stocks, with foreign investors heading towards buying with a total result in the two markets amounting to 142.2 million dirhams, while institutional investment recorded a strong purchase result in the two markets worth 220.2 million dirhams.
The markets attracted strong liquidity amounting to AED 1.77 billion, with 494 million shares traded, through more than 31,700 transactions.
Liquidity in the Dubai market was active, reaching 429 million dirhams, with 190.2 million shares traded, while the Abu Dhabi market recorded strong liquidity of 1.34 billion dirhams, with 304 million shares traded.
Dubai market
The Dubai Financial Market index rose by 0.94%, adding 40 points, approaching the 4300 point level, to close at 4294.9 points.
The general market index recorded the highest daily growth during a two-week period, amid strong performance by sectoral indices, led by “real estate”, whose index rose by 2.75%, industry by 1.48%, and financial by 0.29%.
The share prices of 22 companies rose, 9 companies declined, and 12 remained stable.
The market received strong support from the real estate sector, after Emaar Properties rose by 3.92%, the highest daily increase in 3 months, to close at AED 8.47, and the highest level since the beginning of August, attracting the highest liquidity in Dubai at about AED 137.4 million. Emaar Development followed, but with an increase of 2.2% to AED 8.33. Deyaar also rose by 0.6%, and Union Properties by 0.3%.
In the financial sector, the closings of the sector’s shares varied, with Dubai Islamic Bank rising 2.71% to AED 6.06, recording the second highest liquidity of around AED 81.7 million, while Emirates NBD fell 1.51% to AED 19.45, recording the third highest liquidity of around AED 51.5 million, and Shuaa Capital fell 1.25% to AED 0.237, after rising for two sessions, one of which was at the upper limit.
In the industrial sector, Gulf Navigation shares rose 5.34% to AED 6.51, while Aramex shares continued to rise for the fifth consecutive session, after rising 5.62% to AED 2.44. Drake also rose 1.37%, Air Arabia 1.16%, Dubai Taxi 0.45%, and Parkin 1.72%, while Salik and Dubai Investments remained unchanged.
Utilities shares were unchanged from the previous session, while in consumer goods, Union Cooperative fell 0.41% and Emirates Reem fell 0.4%.
In telecommunications, Emirates Integrated Telecommunications Company (du) shares fell 0.3% to AED 6.28.
Abu Dhabi Market
The Abu Dhabi Securities Exchange General Index rose 0.33%, adding 30.82 points, to close at 9,347.61 points, supported mainly by the real estate sector.
On the contrary, the utilities sector rose by 1.54%, supporting the general market index, while real estate rose by 1.48%, financials by 0.51%, and basic materials by 0.11%.
Green dominated the real estate sector closings, as Aldar shares rose 1.57% to 7.11 dirhams, Eshraq 0.99%, Manazel 0.88%, and Ras Al Khaimah Properties 0.94%.
The share of “Global Holding” rose by 0.73% to 416 dirhams, attracting the highest liquidity worth 246.3 million dirhams, “Abu Dhabi First” by 0.45% to 13.3 dirhams, and “Abu Dhabi Commercial” by 0.11% to 8.73 dirhams, amid a decline in “Abu Dhabi Islamic” by 1.27% to 12.44 dirhams, which attracted about 149 million dirhams.
The energy sector closed in red, with ADNOC Drilling down 0.67% to AED 4.45, ADNOC Distribution down 0.82% to AED 3.61, Dana Gas down 1.01% to AED 0.685, and ADNOC Gas down 0.32% to AED 3.1.
In industries, Alpha Dhabi shares fell 0.5%, while NMDC rose 0.25%, as the company’s board of directors is scheduled to discuss offering part of its energy subsidiaries for public subscription.
IBEX also rose 3.7% to AED 1.96, ADNOC Supply 0.4%, and Agility Global 3.64%.
Americana Restaurants shares fell 2.11% to AED 2.78, and Abu Dhabi Hotels shares fell 0.67%.
In technology, Phoenix rose 1.73%, Presight 1.65%, Alif 0.8%, and Data 0.4%.
E& shares fell 0.57% to AED 17.32, attracting AED 130 million in liquidity. In utilities, TAQA shares rose 1.54% to AED 2.63.
Nationalities
Trading data by nationality showed that foreign investors tended to buy, with a total turnover in the two markets amounting to AED 142.2 million, including AED 47.8 million in Abu Dhabi and AED 94.3 million in Dubai.
Foreigners bought about 819 million dirhams worth of shares, compared to sales of 677 million dirhams, while local investors bought about 955 million dirhams, compared to sales of 1.1 billion dirhams.
Investor type
Institutions also recorded a strong buying result in the two markets, with a total value of AED 220.2 million, distributed between AED 132 million in Abu Dhabi and AED 87.7 million in Dubai.
Total institutional purchases of shares amounted to approximately AED 1.4 billion, compared to sales of AED 1.17 billion. In contrast, individual purchases amounted to AED 379.8 million, compared to sales of AED 600 million, bringing the net investment of individuals to AED 220.2 million, as a result of sales.