Shares rebound in the green category, gaining 8.3 billion dirhams

Shares rebounded yesterday in Green Square with a market gain of nearly 8.3 billion dirhams among buying transactions targeting mainly the main shares of the banking sector as well as real estate and communications.

Local brokers have managed to pull themselves together and move closer to the green circle, mainly backed by bank stocks, after falling sharply in recent days due to fears of a long-term trade dispute with China. The holiday of Eid al-Adha is scheduled for next weekend.

The Dubai market recorded the largest daily gain in two weeks after rising 1.23% or 34.3 points, the largest since July 23, closing at 2831.28 points, with shares of real estate and investment, while the capital market gained about 37.79 points, or 0.74% at the close. 5118.76 points supported by banking stocks, telecommunications and investments.

According to the calculations of the "economic balance sheet", the shares of Dubai have gained more than 3.63 billion dirhams, while those of Abu Dhabi have gained about 4.67 billion dollars, bringing the market capitalization of the shares of two markets at 892.6 billion dirhams. Local liquidity amounted to 368.6 million AED, including 197.9 million in Dubai and 170.6 million in Abu Dhabi, of which 170.6 million shares, of which 118.08 million in Dubai and 52.5 million in Abu Dhabi, through 5,014 transactions.

Dubai Market

Dubai gains were boosted by banking sector gains of 1.66%, Islamic Dubai up 1.95% and Emirates NBD up 1.75%, while the investment sector gained 2.84% , Dubai up 3.16% and Dubai Investments up 3.05%. .

The real estate sector grew by 0.58%, Emaar Development by 1.37%, Arabtec by 1.19%, DAMAC by 1.59%, Emaar Malls by 0.51%, Emaar Properties by 0 , 39% and the transportation sector up 0.38%, up from Air Arabia. 1.75% against Aramex down 0.47%.

"Emaar Properties" dominated the market with a liquidity of about 58.69 million dirhams to close at 5.2 dirhams, followed by a liquidity "Dubai Islamic" of 23.59 million dirhams to close at 5, 23 dirhams and "Emirates NBD" to 22.4 million dirhams to 11.65 dirhams and "Al Salam Bank" Ekttitab was the main loser, with a decrease of 9.04%.

Abu Dhabi Market

The rise in the capital market was supported by the banking sector, up 0.47% on "Abu Dhabi First" gains of 0.53%, "Abu Dhabi Commercial" of 0.82% and "Sharjah Islamic" »2.63%, while the telecommunications sector grew by 1.99% with the rise of" Etisalat ".

The investment sector gained 0.46%, with Eshraq gaining 1.45%, while the real estate sector stabilized, with Aldar and RAK Properties remaining stable and the property sector the largest. Energy down 0.19%, down 5.06% for TAQA, against a 1.49% increase for ADNOC Distribution. And the stability of "Dana Gas". "Aldar Properties" dominated trading with a turnover of 39.3 million AED to close at 2.28 AED, followed by "Abu Dhabi Commercial" transactions with 27.9 million dirhams to reach 8.57 dirhams, then liquidity "Abu Dhabi First" of 27.48 million dirhams to 15.14 dirhams and the "Holding international" up 6.38%.

FTSE Nasdaq Dubai gained 0.86% or 27.78 points to close at 3,251.13 points.

The disclosures

Union Properties recorded a loss of 82.3 million AED at the end of the first half compared with 207.4 million for the same period in 2018.

Reem Investments achieved a net profit of AED 211.3 million at the end of the first half of 2019, compared to a profit of 248.7 million euros for the same period last year, a decrease of 15%.

RAK White Cement Industries (RAKWI) announced a 6% decline in first-half profit of AED 12.7 million compared to the same period in 2018.

Arab Scandinavian Insurance – Takaful – Iskanah Insurance achieved a net profit of AED 2,996 million for the first half of the year, compared with 2,567 million EUR for the same period in 2018.

Gulfa Water experienced an upward turn, posting a profit of 1.57 million AED in the first half, compared with a loss of 6.54 million in the first half of last year.

– Global Holding posted a profit of 10.7 million AED at the end of the first half compared to 17.42 million for the same period in 2018.

Al Dhafra Insurance reported a net profit of 40.2 million AED for the first half of the year, compared with a net profit of 34.2 million AED for the same period last year.

Orient UNB Takaful has announced a 4.5 million loss of AED in the first half compared to 7.55 million in the first half of 2018.

Wahat Al Zaweya's Board of Directors will meet next Wednesday to review and approve the semi-annual consolidated financial statements for the period ending June 30, 2019.

Ithmaar Holding has decided to hold its general meeting on the 29th of this year to discuss the voluntary withdrawal of the Kuwait Stock Exchange (KSE).