Shares green again with gains of $ 5 billion from AED

Local market sentiment and stock market capitalization increased by nearly AED 5 billion at the end of yesterday's session, bolstered by rising optimistic expectations of interest rate cuts and price hikes. results of large companies, which prompted investors to buy in most sectors, especially with prices fluctuating at attractive and attractive prices. .

The Dubai green market index, after two consecutive declines, rose 1.21% to 2880.61 points, its highest level since last August, supported by gains in real estate, investment and consumer goods. base, and the Abu Dhabi index rose 0.27% to close at 5362.83 points, Real Estate, Banks and Communications.

The liquidity reached AED 492.55 million against AED 274.4 million in the previous session, of which 296.05 million in Dubai and 196.5 million in Abu Dhabi. 297.2 million shares were traded, including 211.10 million in Dubai and 86.10 million in Abu Dhabi through 5617 transactions. .

Market gains amounted to 5.03 billion from AED at the end of yesterday 's session, Dubai having gained 4.14 billion shares and shares of the company. Abu Dhabi worth 887.98 million dirhams, for a total capitalization of 920.4 billion.

Dubai Market

Real estate grew by 3.08%, with Emaar Properties up 3.88%, Damac Properties by 3.21%, Emaar Properties by 2.43%, Arabtec Holding by 1.12%, Emaar Development by 1.09% %. The investment sector grew 2.42%, with DFM up 6.23%, Salam Holding Holding 2.6% and Dubai Investment up 1.46%. The insurance sector grew by 2.08%, Dubai National Insurance & Reinsurance by 13.9% and Salama Insurance by 2.47%.

The industrial sector grew by 8.33% due to the increase of "Industries" 11.67% and "National Cement" of 8.33%. On the other hand, the banking sector fell by 0.01%, with the number of Emirates NBDs falling by 0.43% and that of Islamic Dubai by 0.38%.

Emaar Properties is the most traded issue with 91.28 million AEDs, closing at 5.36 dirhams, its highest level since June 2018. It is followed by "GFH", which rose by 2.25% to 0.955 AED. With a liquidity of 34.15 million AED at 5.29 AED.

"Dubai National Insurance & Reinsurance" was the biggest gain of 13.89% to 4.1 AED, while Takaful Emarat was the biggest loser by 4.14% to 1.39 AED.

Abu Dhabi Market

In the Abu Dhabi market, the banking sector grew by 0.24%, led by Commercial International (1.5%), Abu Dhabi (0.50%) and the Islamic Bank of Abu Dhabi (0.41%). The real estate sector gained 0.57% thanks to Al Qudra Holding (9.66%) and RAK Properties (2.58%). The telecommunications sector grew by 0.34% and Etisalat progressed in the same way.

The service sector grew by 1.78% with the support of national hotels in Abu Dhabi, by 3.38%, the investment sector by 0.66%, Waha Capital by 0.94. % and Ashraq 0.23%.

"Abu Dhabi First" dominated the market with a net flow of 49.58 million AED to close at 15.98 AED, followed by Dana Gas with 38.29 million AED to close at 1.04 AED and Abu Dhabi Commercial Bank with AED 36.78 million to close at AED 9. . Al Qudra Holding was the main gain, registering an increase of 9.66%, to stand at 0.999 AED, and 8.67% at Gulf Cement, to reach 0.760 AED.

Rate reduction

"The stock has begun to take a back seat, benefiting from positive expectations of interest rate cuts at the local and global levels, which has increased investor sentiment and encouraged them to buy and seize the opportunities offered by the low prices of most stocks, especially the leaders in the banking and real estate sectors, "said the broker.

The disclosures

The National Oil Distribution Company of Abu Dhabi (ADNOC) will meet Thursday to review and approve the financial statements for the quarter ended June 30.

Du said he had no investment or ownership in the fiber optic cable system on which Pakistan would attempt to connect Pakistan to the United Arab Emirates, adding that he had entered into a agreement with the company allowing the cable to reach the Emirates and land on its premises. In Kalba, claiming that his relationship with the company is purely commercial.

The board of directors of Deyaar Development Company will make the decision to adopt tomorrow to review the second quarter financial statements.

The Oman Insurance Company Board of Directors will review the second quarter financial statements.

Oman and Emirates Investment Holding Company, listed on the Abu Dhabi Stock Exchange and Muscat, announced the approval by the Capital Market Authority (CMA) of Oman of the purchase of 32 shares of the Omani company European Food Industries, currently held by its Fincorp Hope Fund. The shares were bought at the nominal value of 1 RO per share, increasing the company's stake from 80.83% to 80.83%.

The board of directors of Digital Service Holding, listed on the Dubai Stock Exchange and Kuwait, will meet tomorrow to discuss the replacement of a board member.