Abu Dhabi: Muhannad Dagher
UAE stocks maintained their gains, on Tuesday, with the support of leading real estate companies in Dubai and the main banks in Abu Dhabi, amid the stability of most other leading stocks, in parallel with reaping partial profits in other companies.
The Dubai market index rose 0.14% to 4269.4 points, while the Abu Dhabi market index rose 0.08% to 9252.61 points.
This came as foreign (non-Arab) investors pumped in a net investment amounting to 126 million dirhams, including purchase proceeds of 94.7 million dirhams in Dubai, and 31.1 million dirhams in Abu Dhabi.
The shares of “Emaar Properties” and “Emaar Development” maintained their increases by 2.5% and 0.93%, respectively, while “Union Properties” was exposed to partial profit taking, declining 3.07% at the level of 0.441 dirhams.
In Abu Dhabi, bank shares continued to support the market index, as “First Abu Dhabi” rose 0.45%, “Abu Dhabi Commercial” rose 1.44%, and “Abu Dhabi Islamic” rose 1.25%. Liquidity in the markets recorded 1.47 billion dirhams, including 988 million dirhams in the Abu Dhabi market, and 483.7 million dirhams in the Dubai market, and the traded quantities of shares were 526 million shares, distributed as 281.3 million shares in Dubai, and 244.7 million shares in Abu Dhabi.
The share prices of 38 companies rose, while the share prices of 49 companies declined, and this came through the implementation of 27,130 transactions.
The Abu Dhabi market index rose with an increase in sectoral indices for financial, communications and health care stocks, compared to a decline in energy and industry.
In the financial sector, “Investcorp” shares also rose by 0.94%, compared to the decline of “Multiplay” by 0.91%, and the stability of “International Holding” at its previous close.
In terms of communications, “Etisalat E&” rose 0.1% and “Yahsat” rose 1.35%.
In energy, “Dana Gas” rose 0.76%, compared to the decline of “ADNOC Distribution” by 0.55% and “ADNOC Drilling” by 1%, with “ADNOC Gas” stable without change.
In real estate, “Aldar” shares declined by 0.36%, compared to the rise of “Ras Al Khaimah Properties” by 2.44% and “Ishraq” by 1.07%, with “Manazel” remaining stable.
In the health care sector, “Burjeel” increased by 3.37% and “PureHealth” increased by 1.31%. Regarding the industrial sector, “Alpha Dhabi” declined by 1.02%, “ADNOC Logistics” by 0.49%, “Abu Dhabi Ports” by 0.7%, and “Emirates Steel – Arkan” by 0.68%, compared to an increase in “Marine Dredging” by 0.75%.
The Dubai market index rose with the rise in real estate sector shares and the stability of banks, while the utilities and industrial sectors declined.
On the financial level, the shares of “Emirates NBD”, “Dubai Islamic”, “Dubai Financial” and “Dubai Commercial” stabilized, while “Amlak” fell by 0.83% and “GFH” by 6.22%.
In the real estate sector, “Emaar Properties” rose 2.5%, “Emaar Development” rose 0.93%, and “Tecom” rose 1.48%, compared to a decrease in “Union Properties” 3.07% and “Deyaar” 0.12%. On the industrial level, Dubai Investments increased by 0.43%, and the shares of Air Arabia, Aramex, Gulf Navigation, and Dubai Taxi stabilized, while the shares of Parkin fell by 1.37% and Salik by 1.07%. .
In the utilities sector, “Empower” shares decreased by 1.21% and “Tabreed” shares decreased by 2.15%, with “Dewa” stable.
Liquidity in Abu Dhabi was led by “International Holding” with a value of 212 million dirhams, closing at the level of 399.5 dirhams, followed by “Alpha Dhabi” with liquidity of 98 million dirhams, reaching the level of 15.6 dirhams, then “Etisalat E&T” with transactions amounting to 63 million dirhams, closing at 18.3 dirhams, and “Multiplay”, which attracted 62.32 million dirhams of liquidity, reaching 2.17 dirhams.
In Dubai, trading focused on “Emaar Properties” with 147 million dirhams, closing at 8.58 dirhams, followed by “Union Properties” with transactions worth 58.35 million dirhams, reaching 0.441 dirhams, then “Emaar Development” with a liquidity of 36.2 million dirhams and closing at 8.62 dirhams, and “Emaar Development” with a liquidity of 36.2 million dirhams and closing at 8.62 dirhams, and “ Dubai Financial” with liquidity of 34 million dirhams, reaching a price of 1.47 dirhams.
Regarding trades by nationalities in the Abu Dhabi market, Gulf and foreign investors tended to buy, with a net investment of 74 million dirhams as a result of purchases. On the other hand, Arab investors and citizens moved towards liquidation, with a net investment of 74 million dirhams as a result of the sale.
In Dubai, Gulf and foreign investors tended to buy, with a net investment of 106.8 million dirhams as a result of the purchase. On the other hand, Arab investors and citizens moved towards liquidation, with a net investment of 106.8 million dirhams as a result of the sale.
In turn, investment portfolios tended towards buying, with a net investment of 115.85 million dirhams as a result of the purchase. On the other hand, individual investors moved towards liquidation, with a net investment of 115.8 million dirhams as a result of the sale.