Bank stocks lift Dubai market with AED 6.4bn in gains

The Dubai Financial Market index extended its gains for a second consecutive session, rising 0.52%, or 31.5 points, to close at 6,090.65 points, adding gains of nearly AED 6.4 billion, supported by the performance of blue-chip banking stocks — most notably Emirates NBD, which rose 1.18% to AED 31.

The market capitalisation of listed Dubai shares climbed from AED 997.7 billion at the close of Friday's session to AED 1.004 trillion by the end of yesterday's session.

Iktitab Holding led the gainers among 30 rising stocks on the Dubai market, surging 8.43% to AED 0.463, while Emaar Properties captured the largest share of liquidity at AED 116.45 million, closing steady at AED 12.12.

Emirates Investment rose 5.3%, Agility Logistics 4.5%, du 3.65%, and Talabat 0.80%, while Spinneys fell 1.58%, Salik 1%, Amlak Finance 0.79%, and Sukoon Takaful 0.74%.

Dubai market saw a large block trade executed on shares of Etihad Energy Holding (formerly Gulf Navigation) with a total value of AED 62.9 million; the transaction covered 21.7 million shares at an execution price of AED 2.90 per share.

Foreign (non-Arab) investors turned net buyers, with net investment of AED 13 million, after recording purchases of AED 204.6 million against sales of approximately AED 191.6 million.

The Abu Dhabi Securities Exchange general index (FADGI) also rose 0.22% to 9,922.31 points, gaining AED 2.4 billion. Alpha Dhabi Holding led activity on the Abu Dhabi market, accounting for the largest share of total trading at approximately AED 93.3 million, followed by Abu Dhabi Islamic Bank attracting AED 78.6 million, then Al Alamiya Holding with liquidity of AED 66.9 million.

In Abu Dhabi, Al Buhaira National Insurance rose 4.2%, e7 — Istidama 3.2%, Abu Dhabi National for Building Materials 2.48%, and GFH 1.9%. On the other hand, National Corporation for Tourism and Hotels fell 5%, Fujairah Building Industries 5%, Phoenix Group 3.78%, and Umm Al Quwain National 3.77%.

Local equity markets added approximately AED 8.8 billion to their combined market capitalisation in the first session of the week, supported by the performance of blue-chip stocks across key sectors, particularly banking, telecommunications, utilities, and energy.

The aggregate market capitalisation of listed shares rose from AED 3.899 trillion at the end of Friday's session to AED 3.907 trillion at the close of yesterday's session, split between AED 2.903 trillion for shares listed on the Abu Dhabi Securities Exchange and AED 1.004 trillion for shares listed on the Dubai Financial Market.

Local shares attracted liquidity exceeding AED 1.3 billion, distributed as AED 728 million on the Abu Dhabi market and AED 557 million on Dubai, with approximately 391.7 million shares traded through more than 28,400 transactions.

At the level of Arab exchanges, most indices posted gains: Saudi Arabia's Tadawul All Share Index (TASI) rose 0.05%, Kuwait's index 0.61%, Qatar's 0.20%, and Muscat 0.23%, while Bahrain's bourse declined 0.03%. Outside the Gulf region, Egypt's stock exchange index jumped 2.68%.

In detail, Saudi Arabia's TASI rose 0.05% to close at 10,813 points, with trading turnover of SAR 3.8 billion.

Paper Manufacturing and Fish Farming shares topped the gainers list with a rise of 10%, while Saudi Aramco edged up less than 1% to SAR 26.16. Almarai, BSF, Al Tawuniya, Riyad Bank, flynas, Rasan, Electrical Industries, and East Pipes rose between 1% and 3%.

Conversely, Darb Saudi Arabia led the decliners with a fall of 6% to SAR 2.32, while Bupa Arabia, Jabal Omar, Makkah, Elm, Savola Group, Masar, Gas Holding, Yamama Steel, and Al Mutaqadima fell between 1% and 4%.

Egypt's stock exchange indices rose across the board at the close of Monday's trading, with market capitalisation gaining EGP 57.327 billion to close at EGP 3,807,526 trillion.

Egypt's main index (EGX 30) gained 2.68% to close at 52,502 points, while the EGX 30 Capped index jumped 2.43% to close at 64,499 points, and the EGX 30 Total Return index gained 2.69% to close at 24,493 points.

The small- and mid-cap index (EGX 70 Equal Weight) rose 1.12% to close at 16,132 points, while the EGX 100 Equal Weight index climbed 1.25% to close at 21,925 points.

The Amman Stock Exchange rose, supported by buying in blue-chip stocks amid healthy liquidity. The general share index closed up 0.17% at 3,858 points, with liquidity of JOD 9.7 million.

Comparing closing prices of traded companies, 31 companies recorded gains in their share prices and 31 companies recorded declines.