The Dubai market crosses the 2900 points with the support of real estate and banks

(MENAFN – Bahrain Times) Source:

Amr Adel

Dated:
July 31, 2019

Local stock markets mixed at the end of yesterday's session in the face of declining liquidity, with investors' appetite for interest rate decisions rising again.

The Dubai index rose 1.08%, surpbading the 2900 points and closing at 2911.68, its highest level since August 12, 2018 with the main support of the real estate sectors and the bank, while the Abu Dhabi index fell 0.59% to 5331.14 points under pressure from profit-taking with the fall in real estate values, banks and telecommunications and l & # 39; 39; energy.

Liquidity decreased slightly from AED 492.55 million in the same period to AED 459.9 million, of which 306.6 million was in Dubai and 153.2 million in Abu Dhabi. 298.17 million shares were traded, distributed by 225.76 million in Dubai and 72.4 million in Abu Dhabi by 5004. Offers.

Dubai Market

Supporting the rise in the Dubai market The real estate sector grew by 1.56%, with Emaar Properties recording a 1.5% rise to its highest level since August 7th, 2018 at AED 5.44 and Emaar Development rising by 3%. , 66% at 4.82 AED, its highest level since December. Emaar Properties 1.42% And Union Real Estate 1.36%.

The banking sector grew 0.8%, with Islamic Dubai up 0.94% and Emirates NBD up 0.86%. The investment sector in Dubai gained 2.26%, DFM gained 5.09%, Shuaa Capital 1.7%, Dubai Investment 1.4% and the commodities sector up 1.1%. %, the DAX gaining 1.33%.

The transport sector grew 0.70%, with Air Arabia rising 1.79% to reach AED 1.14, its highest level since May 2018. Services grew by 0.25%, with Amanat de 0.50% and insurances 0.12%, while Dubai National Insurance 3.66%.

The telecommunications sector fell by 0.54%, with the same decline.

Dubai's largest financial market, at 5.09%, closed at 0.950 AED, while Al Salam Bank posted the worst performance, down 2.7% to 1.06 AED.

Emaar was the most traded security in the Dubai market with net liquidity of AED 56.37 million, closing at AED 5.44.

Abu Dhabi Market

In the Abu Dhabi market, the banking sector fell by 0.35% due to the decline of Abu Dhabi First by 0.5%, Arab Bank by 9.68%, the Ras Al Khaimah National Bank by 1.08% and Sharjah by 0.81%. With the decline of Oasis Capital & # 39; at 1.87% and 0.40% Shuraq. The real estate sector fell by 1.18%.

The energy sector lost 0.39%, energy and 1.33%, and ADNOC, 0.74%.

The disclosures

The Al Alamiah Holding board of directors approved the election of Nader Ahmed Al Hammadi as chairman of the board of directors and appointed Hamad Khalfan Al Shamsi as vice chairman.

National Marine Dredgers announced the completion of a maritime business project on the island of Jubail for a total amount of 54 million AED.

The board of directors of Emirates Refreshments will hold a meeting next Monday to discuss the company's internal affairs.

Gulf Pharmaceutical Industries – Gulfar lost 91.6 million dirhams at the end of the first quarter of this year, against a profit of 18.4 million dollars for the same period last year.

The Kuwait Capital Markets Authority (KSE) has approved Agility's request to sell or sell up to 10% of its shares for a period of 6 months from the date of issuance. # 39; s approval.

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