Domestic stocks continue to rise for the fourth week

Domestic stock markets continued their strong momentum last week, with increased optimism and improved investor confidence following the signing of a major deal between Emaar Properties and Beijing Daxing Airport. And foreigners, to buy in most sectors in a context of increased liquidity.

According to the Economic Monitor, net purchases of non-Arab foreign investors in both markets last week reached AED 527.7 million, of which 197.7 million in Dubai and 329.99 million in Abu Dhabi, while institutional investments reached 405.18 million of AED.

Gains

The stock added a weekly gain of 23.6 billion dirhams to about 15.64 billion dirhams in Abu Dhabi and 7.99 billion dirhams in Dubai, bringing the market capitalization to 919 billion dirhams at the end of the year. last week.

A number of local and international factors have had a positive impact on equities over the past week, including the AED 40.5 billion deal on Emaar Properties with Beijing Daxing International Airport and a series of results, the brokers announced. Positive and upbeat money from banks has contributed to the growth of major stock indexes, as well as signs of war, trade tensions and interest rate cuts.

They pointed out that interest rate expectations at the global and national levels would continue to affect domestic equities next week and that the remaining results of the leading companies in the market would affect investor orientation over the next few years. weeks, in an optimistic context of options as to the results of other companies in the market.

New liquidity

Raed Diab, head of research at KAMCO Investment, said the week had been marked by a remarkable performance given the demand for leading stocks and the entry of new cash.

He pointed out that the participation rate in the banking and real estate sectors was based mainly on the expectations of good results for the first half of this year, noting that the conclusion of the contract "Emaar Properties" with the huge agreement with the & # 39; Beijing International Airport, which includes housing and recreation, had a positive impact on investor sentiment and the sector in general. .

Diab said markets are betting on a reduction in interest rates this week and its positive effects, adding that the situation seems relatively calm for the situation in the region and for the crisis between the United States and its allies , and Iran, has a significant impact on the global environment and the equity markets. He expects that the positive atmosphere of the markets will be maintained over the coming period in expectation of more business results.

Dubai Market

The Dubai index rose 3.17% to 2850.69 points, its highest level in 8 months, supported by property values ​​and banks, while the Abu Dhabi market rose 3.25% , exceeding the level of 5300 points to close at 5387.77 points, its highest level since. The end of the month of last April, following the rise in shares of banks, telecommunications and real estate.

Immovable

The Dubai market's growth was boosted by real estate gains of 6.1%, including AED 6.93, its highest level since November, up 6.95%, and signed a preliminary agreement with the company. Beijing Daxing International Airport for the realization of a project of 40.5 billion AED, Emaar Properties rose by 7.14%, Emaar Properties by 5.68%, Union Properties by 4% and Arabtec by 1, 14%.

The investment sector gained 3.55%, with DFM rising 10.4% to its highest level in five months at 0.840 AED after the company announced a profit increase in the second quarter and SHUAA Capital at 7.10%. The banking sector grew by 1.07%, with the NBD of Emirates gaining 0.86% and Islamic Dubai of 1.16%.

The commodities sector grew by 4.83%, Dubai Refreshments by 14.97% and DBS by 5.71%. The transport sector grew by 2.72%, with an increase of 3.09% for Aramex and 2.78% for Air Arabia.

The telecommunications sector grew by 2.04%, while the company's profit in the first half increased. The services sector grew by 0.94%, with Tabreed up 1.13% and Amanat Holding up 0.5%.

Emaar Properties was the most traded stock, with a net flow of AED 296.83 million to close at AED 4.80, while Dubai Islamic Bank was first on the list, trading at 222.95. millions of AED at 5,115 AED. International Finance and Investment Advisory (IFA) activities increased by 26%, to stand at 0.2 AED. Agility recorded the largest decline of 9.58% to 6.37 AED.

Abu Dhabi Market

In Abu Dhabi, the real estate sector grew 10.82%, Aldar gained 10.8%, the banking sector up 2.8%, the Commercial Bank of Abu Dhabi up 3.9% , Abu Dhabi topped with a rise of 3.08%, the Islamic Bank of Abu Dhabi up 2.94% RAKBANK 2.2%.

The investment sector grew by 3.76%, with Ashraq increasing by 6.02% when the company started to open its shares to foreigners, while Waha Capital gained 2.97%. The energy sector grew by 4.6%, with Dana Gas up 8.32% and TAQA down 3.04%. The telecommunications sector grew by 2.65%. Etisalat recorded growth equivalent to that of its half-year profits.

Abu Dhabi First is ranked at the top of the list with a net flow of 30.44 million AED to close at 15 AED, followed by Aldar Properties, which has traded at 199.88 million AED and closed at 2.08 AED. "Global Holding" shares recorded the largest increase of 27.78% to close at AED 1.62, while "Abu Dhabi National Insurance" was the lowest of 8.33% at 3 dirhams.

Liquidity

The total liquidity of the market increased last week, rising from 1.93 billion dirhams to 2.51 billion dirhams, divided into 1.228 billion in Dubai and 1.284 billion in Abu Dhabi, the weekly volume from 1.13 billion to 1.45 billion, of which 901.46 million in Dubai and 546.17. 2 million in Abu Dhabi.