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Local markets continued to outperform the GCC stock market for the second week in a row, with optimism about investor sentiment continuing to perform well for publicly traded companies and the big banks. The Abu Dhabi Securities Exchange (ADX) rose 1.5% to 4844.19 points, its highest level in three years, thanks to gains from banks, investments and energy. Bahrain has followed by 0.98% and the Dubai index rose 0.7% to 2948.8 points. The highest in a month, thanks to gains in banks, real estate and investment, to continue its marathon earnings for the fourth consecutive week. The index of the Kuwait Stock Exchange rose 0.48%, the Saudi index 0.97% and the stock market of Muscat 2.5%.
Optimism
The financial market analyst, Amr Hussein, In his earnings for the fourth consecutive week, investors are optimistic about the good season of results, especially in the banking sector with record profits
The net profit of 17 banks listed on the financial markets of Dubai and Abu Dhabi reached AED 21.75 billion for the first half year annual growth of 14.5% or 2.75% against 18%. [1969004] He added that markets are expecting more gains in the coming weeks, especially in light of the state of anticipation for investors to announce the rest of the leading companies for profits, led by "Emaar Properties" The lack of liquidity remains the dominant factor in the movement of local markets, but they expect to gradually improve after the end of the summer period, especially with most stocks trading at good levels.
C. Weekly market liquidity remained at a subdued level last week to reach AED 1.13 billion distributed by 549.2 million in Dubai and 580.9 million in Abu Dhabi, 603.9 million shares traded of which 411 , 9 million in Dubai and 192 million in Abu Dhabi thanks to the establishment of 11.5 thousand shares.
Arab and foreign investors tended to invest in local markets last week with a net investment of AED 141 million, of which AED 8 million for Arabs and AED 133 million for foreigners, compared with a net investment of 141 million DH. Millions of dirhams, including 135 million dirhams for citizens, According to a study of the "economic statement", citizens have turned to the only sale of Dubai with a net investment of 6.26 million dirhams, while investors Arab, Gulf and foreign bought, a net investment of 6.26 million dirhams, In the Abu Dhabi market, Arabs and foreigners tended to buy, with a net investment of 136.14 million dirhams, including 132.5 million dirhams for foreigners and 3.64 million dirhams for Arabs, on the other hand, golfers and citizens were net sellers with a net investment of 136.14 million AED 7 , 6 million dirhams for GCC nationals and 128.5 million dirhams for nationals.
Investment institutions also tended to purchase a net investment of AED 73 million, of which $ 45 million in Abu Dhabi and $ 28 million in Dubai. Investment of 73 million from AED, of which 45 million from AED to Abu Dhabi and 28 million from AED to Dubai
Banks
The Abu Dhabi market gained 2, 5% per week, while Abu Dhabi First grew by 3.42% Its profits increased to AED 6.05 billion with growth of 10.4% compared to AED 5.48 billion in the same period last year The Islamic bank of Abu Dhabi rose 0.25%, while the commercial bank of Abu Dhabi gained 0.34%, posting a net profit of 2.33 billion dirhams in the first half, up 10.3% from 2.11 billion in the same period last year. The energy sector grew by 2.26%, with Dana Gas up 5.71%, ADNOC by 0.41%, while the telecom sector remained stable with Etisalat at 17.15 AED, while that real estate sector shrinks by 0.94% Al-Dar shares 0.97% and Ashraq 1.61%.
The first share of Abu Dhabi's capital market exchange with liquidity of AED 190.5 million, up from 3.42% to 13.6% Followed by "ADNOC Distribution" with AED 89 million, up 0.41% to AED 2.47, followed by "Etisalat" with a turnover of AED 61.3 million.
RAK Cement won the most 8.45% Dh 0.77, followed by "Gulf Cement" with a rise of 6.19% at AED 2.1, followed by "Dana Gas" of 5.71% to AED 1.1, while "Finance House" the largest decline, falling 10% to AED 1.62, Next comes "Gulf Investment" which lost 8.7% to close at 2.1 AED, followed by United Arab Bank, down 8.62% to 1.06 AED.
Real Estate
Dubai's rising market with a 1.3% rise, supported by Emaar Properties, up 3.1%, Damac 1.4%, Deyaar 0.47%, Drake & Scull 4.19%, Union Properties "3.28%," Emaar Malls "1.9%.
The banking sector gained 0.75%, while Emirates NBD rose 1.93% against Dubai Islamic Bank, while Investment increased by 1% Dubai Investment Company (1.5%), Shuaa Capital (1.8%), Dubai Financial Market (1.1%), Transportation (2.35%), Air Arabia ( 2.7%), Aramex (2.27%) and Gulf Navigation »0.73%.
Emam shares Followed by Drake & Scull (85 million AED), a decrease of 4.19% to AED 0.6 , followed by Islamic Dubai (AED 71 million) To close at AED 4.97
Takaful Emarat was the highest winner, tumbling 15.2% to AED 2.35 Khaleeji Commercial Bank was the biggest winner of 14.35% at AED 0.95 , followed by Emaar Properties, 3.1% to 5.3 dirhams
The shares of International Financial Council were the biggest losers of 14.93% at AED 0.3, (19659002) Catalysts
The financial expert Amr Hussein pointed out that the markets are full of positive incentives, especially in terms of the strength and vigor of the national economy and the expected future growth prospects, with the continued positive performance of actions and indicators, particularly in the light of the good medium-term results and the return of foreign and institutional purchases targeted by the actions of large companies.
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