WATER – Equity markets fall as liquidity slows

(MENAFN – Bahrain Times) Source:

Amr Adel

Dated:
August 02, 2019

Domestic stock markets fell at the end of yesterday's session, due to a sharp drop in liquidity levels due to a cautious situation, in anticipation of the decline in global markets, uncertainty about the further decline in global interest rates and the expectation of medium-term results.

The Dubai index fell 0.62% or 17.99 points after three consecutive increases, but remained above 2900 to reach 2900.39 points with the decline in shares of real estate, transport, banking and investment, while the Abu Dhabi index lost about 87.68 points, or 1.65%. The pace has slowed since last June to reach 5,302.22 points subject to lower shares of telecommunications, banking, energy and real estate.

Liquidity

Liquidity increased from AED 585.1 million at the previous session to AED 352.83 million, including Dubai 168.29 million and Abu Dhabi 184.54 million. 184.61 million shares were traded, including 115.48 million in Dubai and 69.13 million in Abu Dhabi via 4417 Deal.

Dubai Market

The real estate sector fell 1.4%, with Damac 2.45% and Emaar Properties 1.89%, a day after the company announced a decline in its quarterly profits. Arabtec Holding 0.57%.

The banking sector fell by 0.27%, with "Emirates NBD – 0.4% and" Dubai Islamic 0.19% ". The transportation sector fell 0.29%, while Aramex lost 1.6%. The investment sector fell by 0.22%, with the Dubai financial market down 0.95%, Al Madina Investment 4.8%, the insurance sector 0.14%, Takaful Emarat 0.7% and Salama 0.43%.

Emaar was trading at 37.44 million AED and closing at 5:45, followed by Dubai Islamic Bank with a turnover of 24.56 million AED, to close at 5, 31 AED. Khaleeji Commercial Bank was the largest gain, up 3.3%, to AED 0.599, while Al Madina Finance recorded the largest decline, at 4.8%, to AED 0.219.

Abu Dhabi Market

The Abu Dhabi market fell for the third consecutive session, driven by a 3% drop in the telecommunications sector and Etisalat. The banking sector declined 1.44%, with Abu Dhabi First up 1.8%, the Commercial Bank Abu Dhabi 1.67% and Sharjah Bank 2.52%.

The energy sector dropped by 1.06%, with TAQA losing 5% after the General Assembly meeting to isolate some board members and Dana Gas, 0.96%, with the intention of the company to sell its badets in Egypt. The industry sector fell by 2.68%, while that of "Gulliver" decreased by 9.5%.

The real estate sector fell by 0.11% with the decline of "Holding Holding 9.4% and". RAK Properties & # 39; 1.67%, while that of & # 39; houses & # 39; increased by 0.24%.

Abu Dhabi first dominated the market with AED 36.04 million, closing at AED 15.6, followed by Aldar Properties, which sold AED 20.02 million and closed at AED 2.31, ADIB trading at around AED 18.62. , AED 68 million and closing at AED 5.

Commercial International was the main winner with a 6.41% rise to 6.41 AED, while Takaful was the biggest loser by 10% to 2.7 AED.

The disclosures

Dubai Refreshments' earnings reached AED 30.9 million at the end of the first half of 2019, up 181% from the 11 million in the corresponding period of 2018.

The Board of Directors of Drake & All International has decided to appoint Abdullah Al Atatra as Chairman of the Nomination and Remuneration Committee.

The Gulf General Investment Company (GCC) Board of Directors will meet on Wednesday to review the unaudited consolidated financial statements for the period ended June 30.

Khaleeji Commercial Bank (KHCB), listed on the Dubai and Bahrain Stock Exchanges, earned a profit of 167,000 BD at the end of the first half of 2019, compared with a profit of 1.36 million BD at the end of the same period from last year.

Codification Investment & Development Co. reported a net profit of 12.6 million AED at the end of the second quarter of this year, compared with a profit of 12.2 million AED at the end of the corresponding period of 2018.

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