Liquidity in local equity markets exceeded 2.3 billion dirhams yesterday, distributed at 1.33 billion dirhams on the Abu Dhabi Securities Exchange and 1.01 billion dirhams on the Dubai Financial Market, after 615 million shares were traded across 44,900 transactions. Most Arab stock exchanges saw declines, with the majority of indices moving sideways amid regional tensions.
Total equity market capitalisation stood at approximately 3.887 trillion dirhams, comprising 2.895 trillion dirhams for shares listed on the Abu Dhabi market and 991.6 billion dirhams for shares on the Dubai Financial Market.
Emaar Properties and Emaar Development accounted for the largest share of Dubai market liquidity at 339.4 million dirhams, equivalent to 33.6% of the market's total liquidity.
The Dubai market index closed at 6,001.93 points, down 1.51%. Dubai Refreshments shares rose 14.95% to the maximum limit, while United Foods gained 5%, Mashreq Bank 0.20%, and Watania International 0.16%. On the downside, Emirates Investment fell 5%, Iktitab Holding 4.87%, Aman 4.8%, and Talabat 4.8%.
The Dubai market saw two large direct block trades in shares of Etihad Energy Holding (formerly Gulf Navigation) with a combined value of 131.1 million dirhams, executed on 44.9 million shares of the company.
Foreign investors (Arab and non-Arab) were net buyers with a net investment of 50.14 million dirhams, recording purchases worth 535.7 million dirhams against sales of approximately 485.5 million dirhams.
The FTSE Abu Dhabi General Index (FADGI) fell 0.56% to 9,885.05 points.
Aldar Properties led activity on the Abu Dhabi market, capturing the largest share of total turnover with liquidity of 204.7 million dirhams, followed by Abu Dhabi Islamic Bank attracting 191.4 million dirhams, then Alpha Dhabi Holding with 104.1 million dirhams.
On the Abu Dhabi market, Fertiglobe rose 3.08%, Abu Dhabi National Insurance 0.98%, Presight 0.87%, and Bank of Sharjah 0.86%. In contrast, Phoenix Group fell 4.95%, Orascom 4.94%, Abu Dhabi National for Building Materials 4.94%, and Fujairah Building Industries 4.9%.
Most Arab stock exchange indices declined, with Kuwait falling 0.79%, Qatar 0.76%, and Bahrain 0.60%, while Saudi Arabia's Tadawul All Share Index (TASI) edged up 0.01% and Muscat gained 0.91%. Outside the Gulf region, Egypt's stock exchange index dropped 1.84%.
In detail, Saudi Arabia's TASI rose marginally by 1 point to close at 10,854 points, with turnover of 4.4 billion riyals.
Aramco shares climbed 3% to 26.84 riyals, while SABIC, Yansab, Lubref, Riyad Bank, Marafiq, and Saudi Energy rose by between 1% and 3%.
In contrast, Al Rajhi Bank and Saudi National Bank fell 1% to 65.45 riyals and 38.42 riyals respectively.
Extra and Tasheel shares fell 6% and 10% respectively, while ACWA Power, Petro Rabigh, Al Ta'awuniya, Catrion, Ground Services, and flynas declined by between 2% and 5%.
Egyptian stock exchange indices declined broadly at the close of Wednesday's session, with market capitalisation shedding 47.216 billion Egyptian pounds to close at 3,782,136 trillion Egyptian pounds.
Egypt's benchmark EGX 30 index fell 1.84% to close at 52,028 points, while the EGX 30 Capped index dropped 1.54% to 63,950 points, and the EGX 30 Total Return index lost 1.84% to close at 24,272 points.
The small- and mid-cap EGX 70 Equal Weight index declined 1.3% to close at 16,004 points, while the EGX 100 Equal Weight index fell 1.29% to close at 21,747 points.
The Amman Stock Exchange declined amid selling in blue-chip shares, despite healthy liquidity levels.
The general share index closed down 0.01% at 3,880 points, with trading value reaching 8.9 million dinars.
Comparing closing prices of traded companies, 30 companies saw their share prices rise while 31 companies recorded declines.