Banks support the rise of the Abu Dhabi market and make profits in Dubai

Local stock markets closed at the close of trading yesterday, as liquidity fell below 250 million AED, investors worrying about geopolitical tensions.

The Abu Dhabi market grew with the support of the banking sector, while the Dubai market fell under the pressure of profit-taking after a strong market rally late last week.

The Abu Dhabi index rose by 0.33% to 5235.37 points, with shares of banking, insurance and investment companies, while that of Dubai fell to 2750 points, down 0, 86% to 2739.26 points with falling real estate and banks.

The market liquidity of the two markets rose from 768 million dirhams during the previous session to 234.32 million euros, of which 146.84 million dirhams in Dubai and 87.48 million in Abu Dhabi. .

Abu Dhabi Market

The banking sector in Abu Dhabi grew by 0.86%, while Abu Dhabi First rose 1% for the second consecutive session, while considering the proposal to increase the percentage of foreign ownership in the economy. All shares, Sharjah Islamic Bank 0.88%, Abu Dhabi Islamic 0.84%, Abu Dhabi Commercial Bank 0.57% The investment sector grew by 0.23%, supported by the rise of Ishraq Investment Company 0.7%, while Waha Capital has stabilized.

On the other hand, the commodities sector fell by 1.1% following the decline of Agthia by 3.45% and the energy sector by 0.92%, while the TAQA declines by 1.02%. , of Dana Gas 1% and ADNOC Distribution 0.73% With Etisalat in loss of speed.

Real estate fell 0.48%, RAK Properties was down 0.67% and Aldar Properties was down 0.47%. The industry fell by 0.17%, with a drop of 6% for Gulf Cement and 0.64% for Ras Al Khaimah Ceramics.

"RAK Cement" shares recorded the largest increase in Abu Dhabi of 3.69% to close at 0.65 AED, while "Cement Gulf" recorded the smallest decrease of 6% to 0.85 dirhams.

Etisalat was the most traded security in the Abu Dhabi market, with a net flow of 15.49 million AED, closing at 17.22 AED.

Dubai Market

In the Dubai market, the banking sector fell by 0.78%, Emirates NBD down 1.29% and Islamic Dubai by 0.39%. The real estate sector fell by 1.46%, Emaar Properties declined by 1.23%, Arabtec Holding by 2.27% and Emaar Properties by 2.04%.

The commodities sector fell by 1.21%, the CSP by 1.43%, services by 0.94%, Amanat by 1.30% and Tabreed by 0.57%.

The titles "International Consultants" and "IFA" rose 15% to AED 0.230, while "Aman" fell 4.29% to 0.468 dirhams.

Salama Insurance dominated the business with AED 30.38 million in liquidity, closing at 0.687 dirhams, up 0.6% after Standard & Poor's raised its credit rating to BBB with a prospect. stable.

Arab and foreign investors in Dubai tended to buy a net investment of 17.3 million from AED, of which 9.165 million for foreigners and 8.13 million for Arabs, while that investors and nationals of GCC countries tended to sell, against a net investment of 17.3 million AED to GCC nationals and 6.28 million AED. .

In Abu Dhabi, foreigners were net buyers with a net investment of 6.55 million euros, while Gulf, Arab and country investors sold 6.55 million AED, distributed between 5.13 million euros, 1.18 million DH and 239.61 thousand DH.

The disclosures

Abu Dhabi Aviation Co's net profit increased by 23.7% to AED 139.4 million in the first half of this year, compared to AED 112.68 million for the same period in 2018.

The Dubai Insurance Company Board of Directors will approve the financial results for the second quarter ended June 30, 2019.

The Sharjah Cement and Industrial Development Corporation announced Thursday the death of its president, Ahmed Abdullah Al Noman.

Gulf Pharmaceutical Industries (Julfar) announced the appointment of Omair Ahmed as interim chief financial officer.

The instructions

To ensure your savings and the security of your transactions, avoid dealing with irregular portfolios managed by unauthorized persons, and make sure that there is an official license for the wallet and that it is subject to to the control of the state regulatory body.