UAE stocks ended the week’s trading on a decline, under pressure from real estate stocks, some banks, utilities and industry, in volatile sessions, during which foreign investors moved towards liquidation in exchange for local purchases. Technology shares listed on the capital market rebounded within a week, as “Brissite” rose 4.02%, “Phoenix Group” 5.24%, and “Bayanat” 9.02%, while “GFH” recorded strong increases, as it rose in Dubai by 11.7% to 1.05%. dirhams, and in Abu Dhabi 11% to the level of 1.05 dirhams as well. Despite the announcement of strong results for banks during the first quarter only, their performance fluctuated within 5 trading sessions, as in Dubai, “Emirates NBD” rose by 1.2%, “Commercial Dubai” by 0.74%, and “Mashreq Bank” by 4.65%, while Dubai Islamic declined 3.17%.
In the capital market, the shares of “First Abu Dhabi” decreased by 2.66% and “Ras Al Khaimah National” by 0.97%, compared to the rise of “Abu Dhabi Commercial” by 0.85% and “Abu Dhabi Islamic” by 1.82%.
In turn, foreign investors (non-Arabs) moved towards liquidation with a net investment of 281.47 million dirhams as the proceeds of sales, of which 149.5 million dirhams were the proceeds of sales in Abu Dhabi and 131.97 million dirhams were the proceeds of sales in Dubai.
The shares attracted weekly liquidity of 6.94 billion dirhams, of which 4.8 billion dirhams in the Abu Dhabi market and 2.14 billion dirhams in the Dubai market, and the traded quantities of shares were 2.4 billion shares, distributed by 1.56 billion shares in Abu Dhabi compared to 876.4 million shares in Dubai, and this came from During the implementation of 132 thousand and 315 transactions.
The Dubai market index fell in a week by 0.6% to the level of 4148.23 points, affected by declines in leading stocks in real estate, industry, utilities and finance.
In the financial sector, shares of “Dubai Islamic” fell by 3.17%, “Dubai Financial” by 1.4%, and “Amlak” by 0.6%, compared to increases in shares of “Ajman Bank” by 4.4%, “Emirates NBD” by 1.2%, and “GFH” by 11.7%. % and “Mashreq Bank” 4.65%.
On the real estate front, shares of “Deyaar” fell 11%, “Emaar Properties” 1.8%, “Emaar Development” 1.6%, “Tecom” 3.6%, and “Union Properties” 3.89%.
Regarding industry, shares of “Air Arabia” rose 1.13% and “Gulf Navigation” by 8.66%, compared to a decline in shares of “SALIC” by 5%, “Parkin” by 6%, “Dubai Taxi” by 4.58%, “Aramex” by 0.38%, and “Dubai Investments”. » 6.4%.
At the utilities level, “Tabreed” rose 4.4%, compared to declines in “DEWA” by 0.42% and “Empower” by 0.6%.
The Abu Dhabi market index fell, within a week, by 0.9% to the level of 9042.28 points, with sectoral indices for financial, real estate, communications, industry and utilities stocks declining.
In the financial sector, shares of “First Abu Dhabi” fell by 2.66% and “Multiplay” by 2.47%, compared to a rise in “Abu Dhabi Commercial” by 0.85% and “Abu Dhabi Islamic” by 1.82%, with “International Holding” stable.
In real estate, “Aldar” shares decreased by 3.74%, compared to an increase in “Ishraq” by 8.1%, “Manazel” by 10.1%, and “Ras Al Khaimah Properties” by 0.83%.
In telecommunications, Etisalat E&E shares fell 3.3%, while Yahsat rose 2.56%. Regarding energy, “ADNOC Gas” fell by 3.57% and “ADNOC Drilling” by 2%, compared to the rise of “Dana Gas” by 3.92% and the stability of “ADNOC Distribution”.
On the industrial level, “ADNOC Logistics” rose 2.86%, “Abu Dhabi Ports” rose 2.24%, and “Emirates Steel – Arkan” rose 2.1%, compared to a decline of “Alpha Dhabi” 5.34% and “Marine Dredging” 0.23%.
In health care, shares of “PureHealth” fell by 2.02% and “Burjeel” by 1.3%. In terms of technology stocks, “Brissite” rose 4.02%, “Phoenix Group” rose 5.24%, and “Bayanat” rose 9.02%.
Abu Dhabi’s weekly liquidity was led by “International Holding” stock with a value of 990.5 million dirhams, closing at 399.5 dirhams, followed by “Alpha Dhabi” with liquidity of 441.65 million dirhams, closing at 14.18 dirhams, then “Multiplay”, attracting 288 million dirhams and closing at 2.37 dirhams, and fourth. “Aldar Properties” with transactions amounting to 255 million dirhams, reaching the level of 5.15 dirhams.
Dubai’s trading was led by “Emaar Properties” with a value of 535 million dirhams, closing at the level of 8.14 dirhams, followed by “Gulf Navigation” with liquidity of 306.6 million dirhams, reaching the level of 7.4 dirhams, then “Emirates NBD”, attracting 255.12 million dirhams, to close at the level of 16.75 dirhams. The fourth place came to Dubai Islamic, with transactions of 146.5 million dirhams, reaching a price of 5.5 dirhams.
- Highs and lows
The highest weekly increase in the Abu Dhabi market was recorded by “Union Insurance” stock, by 14.81%, closing at the level of 0.558 dirhams, followed by “GFH”, which rose by about 11% to the level of 1.05 dirhams, then “Manazel”, which rose by 10.1%, to close at 0.338 dirhams.
On the other hand, the declines were led by “Invictus Investment” with a rate of 12.89%, closing at the level of 2.23 dirhams, followed by “ESG”, which fell by 11.54% to the level of 11.5 dirhams, and thirdly, “Al-Sir Equipment”, which fell by 10.28% to the level of 4.8 dirhams.
The rises in Dubai were led by “GFH” shares, which rose by 11.7%, closing at 1.05 dirhams, followed by “Al Ramz Corporation”, which increased by 10% to the price of 1.65 dirhams, then “Gulf Navigation Holding”, which rose by 8.66% to the level of 7.4 dirhams.
On the other hand, the declines were led by “Deyaar” with a decline of 11% to the level of 0.721 dirhams, followed by “Agility Warehousing” with a decrease of 10.34% to close at 13 dirhams, then “National Cement” with a decline of 9.8% to a price of 2.21 dirhams.
Regarding trades by nationalities in the Abu Dhabi market during the week, national investors tended to buy, with a net investment of 110.8 million dirhams as a result of a purchase, and the Gulf nationals also did with a net investment of 48.2 million dirhams as a result of a purchase.
On the other hand, Arab and foreign investors moved towards liquidation, with a net investment of 7.8 million and 149.5 million dirhams, respectively.
In Dubai, national and Arab investors tended to buy, with a net investment of 150.1 million dirhams as a result of purchases, of which 41.73 million dirhams were the result of purchases by Arabs, and 108.37 million dirhams were the result of purchases by citizens.
On the other hand, Gulf and foreign investors moved towards liquidation with a net investment of 150.1 million dirhams as the proceeds of sales, of which 18.13 million dirhams were the proceeds of sales by Gulf citizens, and 131.97 million dirhams were the proceeds of sales to foreigners.
The performance of investment portfolios varied, as they tended towards buying in the Abu Dhabi market, with a net investment of 98 million dirhams as a result of a purchase, while they tended towards liquidation in Dubai with a net investment of 215.14 million dirhams as a result of a sale.
On the other hand, individual investors tended to buy in Dubai with a net investment of 215.14 million dirhams as a result of the purchase, and to sell in Abu Dhabi with a net investment of 98 million dirhams as a result of the sale.