Dubai market gains AED 4.2 billion, led by Emirates NBD and DEWA

The Dubai Financial Market index climbed back towards 6,200 points, rising 0.32%, or 19.97 points, to close at 6,183.47 points, posting gains of more than AED 4.2 billion and topping Arab market advances, supported by the performance of blue-chip stocks in the banking and utilities sectors, particularly Emirates NBD and DEWA.

The market capitalisation of Dubai-listed shares rose from AED 1.018 trillion at the close of Friday's session to AED 1.022 trillion at the end of yesterday's session.

Amanat Holdings led the gainers among 27 advancing stocks in Dubai, rising 3.1% to AED 1.34, while Emaar Properties attracted the largest share of liquidity at AED 191 million, closing at AED 12.9, followed by du with AED 60.9 million, closing at AED 11.4.

DEWA shares rose 2.14%, Emirates NBD 1.94%, Air Arabia 1.75%, and Dubai Financial Market 1.3%, while National International Holding fell 5%, Mashreqbank dropped 2.64%, Al Salam Bank Sudan declined 2.1%, and Al Etihad Co-operative fell 1.8%.

The Dubai Financial Market saw a large block trade executed on Etihad Energy shares worth AED 61.4 million, distributed across 20 million shares at a price of AED 3.07 per share. UAE investors turned to buying, with a net investment of AED 15.7 million, having recorded purchases worth AED 433.4 million against sales of approximately AED 417.7 million.

The Abu Dhabi Securities Exchange general index (FADGI) also rose 0.19% to 10,035.76 points, gaining AED 6.7 billion. Alpha Dhabi Holding led activity on the Abu Dhabi market, capturing the largest share of total trading at approximately AED 103.6 million, followed by Aldar Properties attracting AED 96.2 million, then ADNOC Gas with AED 91.5 million in liquidity.

In the Abu Dhabi market, Gulf Investment Corporation shares rose 5.3%, Sharjah Cement 5.13%, Eshraq Investments 3.8%, and National Bank of Umm Al Quwain 3.2%. In contrast, Dar Al Takaful fell 3.4%, Invest Bank declined 3.2%, APEX Investment dropped 3%, and Abu Dhabi National Hotels fell 2.97%.

Gains and liquidity

Local equity markets recorded gains adding nearly AED 11 billion to their combined market capitalisation, supported by the performance of blue-chip stocks in the banking, utilities, and energy sectors.

The market capitalisation of listed shares rose from AED 3.947 trillion at the close of Friday's session to AED 3.958 trillion at the end of yesterday's session, distributed as AED 2.936 trillion for shares listed on the Abu Dhabi Securities Exchange and AED 1.022 trillion for shares listed on the Dubai Financial Market.

Local shares attracted liquidity of nearly AED 1.85 billion, distributed as AED 1.13 billion on the Abu Dhabi market and AED 714 million on the Dubai market, with approximately 672.5 million shares traded through around 37,600 transactions.

At the level of Arab stock exchanges, most indices recorded declines, with Saudi Arabia's TASI falling 0.04%, Kuwait's index 0.09%, Qatar's 0.33%, and Muscat 1.34%, while the Bahrain Bourse rose 0.04%. Outside the Gulf region, Egypt's stock exchange index fell 0.18%.

In detail, the Saudi market index TASI edged down 0.04% to close at 11,072 points, with trading worth SAR 3.5 billion. Shares of Al Mutaqadima, SABIC Agri-Nutrients, Al Ramz, Ri'aya, flynas, Petro Rabigh, Al Munjim, Tamkeen, Amlak, Al Mawasah, and Sulaiman Al Habib declined by between 2% and 3%.

The fishing sector stock led the list of gainers, rising 10% to SAR 49.44, Saudi Energy jumped 3% to SAR 18.37, Rajhi Takaful advanced 1%, while shares of Yamama Cement, Thimar, Inaya, Amana Insurance, Saleh Al Rashid, and Mutakamila rose by between 3% and 5%.

Egyptian Exchange indices fell collectively at the close of yesterday's session, with market capitalisation losing EGP 7.263 billion to close at EGP 3,753,967 trillion.

The main Egyptian Exchange index (EGX 30) fell 0.18% to close at 52,585 points, the EGX 30 Capped index lost 0.05% to close at 64,469 points, while the EGX 30 Total Return index dropped 0.17% to close at 24,518 points.

The small and mid-cap index (EGX 70 Equal Weight) fell 0.2% to close at 15,728 points, while the EGX 100 Equal Weight index declined 0.19% to close at 21,550 points.

The Amman Stock Exchange retreated amid selling pressure on blue-chip shares and amid good liquidity. The general share index closed down 0.25% at 3,947 points, with liquidity of JOD 15.4 million.

A comparison of closing prices of traded companies showed 27 companies posting gains and 33 companies recording declines.