Arab stock market indices posted mixed performance against a backdrop of regional developments, with limited gains in a number of real estate stocks and banking shares helping to cushion losses in some indices, even as liquidity levels declined relatively compared with previous sessions.
Most indices moved sideways, prompting investors to hold back and reduce the pace of risk-taking at a time when momentum factors are intertwined with signals of concern, and investment decisions are caught between the search for returns and the need to hedge against risk.
Liquidity in the domestic equity markets exceeded 1.2 billion dirhams, distributed as 771.8 million dirhams on the Abu Dhabi Securities Exchange and 432.12 million dirhams on the Dubai Financial Market, after 308.3 million shares were traded through more than 27,600 transactions.
Market capitalisation stood at approximately 3.836 trillion dirhams, comprising 2.862 trillion dirhams for shares listed on the Abu Dhabi Securities Exchange and 974.02 billion dirhams for shares on the Dubai Financial Market.
Emaar Properties continued to command the largest share of Dubai market liquidity at 173.5 million dirhams, rising 0.17% to close at 11.56 dirhams. It was followed by Talabat with 59.5 million dirhams, then Emirates NBD with 38.14 million dirhams, up 0.53%, closing at 30.1 dirhams. The Dubai market index closed at 5,895.93 points, down 0.26%.
Dubai Refreshments shares jumped to the maximum limit at 33 dirhams. BHM Capital rose 2.88%, Ferdous Holding 2.11%, and Taleem Holding 1.6%. On the downside, International Financial Advisors fell 4.8%, Dubai Islamic Bank 2.37%, Watania 2.02%, and Bank Alsalam Bahrain 1.95%.
Non-Arab foreign investors turned to buying, with a net investment of 3.35 million dirhams, after recording purchases of 240.3 million dirhams against sales of approximately 236.95 million dirhams.
The FTSE Abu Dhabi General Index (FADGI) closed at 9,781.31 points, down 0.51%.
Alpha Dhabi Holding led activity on the Abu Dhabi market, capturing the largest share of total trading with liquidity of 93.86 million dirhams, followed by Aldar Properties attracting 82.4 million dirhams, then ADNOC Logistics & Services with 59.6 million dirhams.
Among the gainers on the Abu Dhabi market were Sharjah Cement up 1.74%, Air Arabia Abu Dhabi up 0.96%, Two Point Zero up 0.94%, and Alpha Data up 0.70%. On the other side, Sudatel Telecom fell 4.96%, NMDC 3.33%, Space42 2.35%, and Alpha Dhabi Holding 2.34%.
Arab bourses saw mixed performance, with Saudi Arabia's Tadawul All Share Index (TASI) rising 0.15% and Kuwait's index gaining 0.07%, while the Muscat exchange fell 1.2% and Bahrain declined 0.13%. Outside the Gulf region, Egypt's stock exchange index rose 0.70%.
In detail, Saudi Arabia's TASI rose 0.15% to close at 10,720 points, with trading volumes of 3.4 billion riyals.
Al Ahli Bank Saudi Arabia rose 1% to 38.14 riyals, while shares of Bank AlInma, Industrialization and Energy Services Company (TAQA), Advanced, Yanbu National Petrochemical Company (Yansab), Bahri, Siera, Al Ramz, and Petro Rabigh gained between 1% and 4%.
On the downside, ACWA Power fell approximately 1% to 183.70 riyals, while shares of Luberef, Saudi Electrical Industries, Jarir, Leejam Sports, Al Dawaa Medical Services, and Al Tameer declined between 1% and 6%.
Egyptian stock exchange indices rose broadly at the close of yesterday's session, with market capitalisation gaining 21.315 billion Egyptian pounds to close at 3,887.030 trillion Egyptian pounds.
Egypt's benchmark EGX 30 index rose 0.70% to close at 52,928 points, while the EGX 30 Capped index gained 0.7% to close at 64,996 points, and the EGX 30 Total Return index rose 0.71% to close at 24,693 points.
The small and mid-cap EGX 70 Equal Weight index gained 1.54% to close at 17,049 points, while the EGX 100 Equal Weight index rose 1.24% to close at 22,887 points.
The Amman Stock Exchange rose, supported by buying in blue-chip shares amid healthy liquidity.
The general stock index closed up 0.45% at 3,920 points, while trading value reached 12.6 million dinars. The industrial sector index rose 0.67%, the financial sector index gained 0.62%, and the services sector index fell 0.14%.
Comparing closing prices of traded companies, 34 companies recorded gains in their share prices while 17 companies recorded declines.