Markets mobilize against profit taking by "leadership"

Local stock markets closed at the end of yesterday's session against a limited take-up of the largest holdings in the real estate sector, while liquidity dropped significantly, falling below the bar 130 million dirhams.

The Dubai market fell by 0.37% or 10.24 points to close at 2794.98 points, under the pressure of real estate companies, transport and banks, while the Abu Dhabi market fell slightly from 0 , 83 point or 0.02% to 4919.84 points, the decline in real estate, communications and energy contrasting Banks, investment and insurance.

Total liquidity reached AED 127.4 million, of which E89.6 million was in Dubai and UA 37.8 million in Abu Dhabi, with 71.9 million shares traded, of which UA 56.6 million was in Dubai and 15.3 million in Abu Dhabi in 1702 transactions.

Immovable

The real estate sector fell by 0.73%, led by Emaar Properties down 1.33%, Arabtec 0.98%, Damac 0.5%, Drake & Scull 1.03%, Union Properties 1.43%, Banking 0.07% and Dubai Islamic Bank 0.19%. .

The transportation sector also fell by 0.41% with Aramex by 0.48%, Gulf Navigation by 1.83% and the stability of Air Arabia, while the investment sector grew by 0.12%, with Dubai Financial up 0.45% and Dubai Investment Stability.

Emaar dominated 37 million AED, followed by Dubai Islamic Bank with 9.3 million AED, followed by Arabtec with 7 million AED, with Sudan's Al Salam Bank winning the most with 7.14% and Amanat the lowest 4.27%.

banks

In the capital market, the real estate sector fell 2.45%, home 2.82% and Ras Al Khaimah Real Estate 2.4%, while Ashraq rose 0.33% . While the banking sector grew by 0.34%, supported by earnings of Abu Dhabi I at 0.43% and Abu Dhabi Commercial at 0.13%.

The telecommunications sector dropped by 0.58%, Etisalat and energy by 0.36%, Dana Gas by 1.74% and ADNOC by 0.43%.

Etisalat was the most traded stock with 7.57 million AED, followed by Union Bank with 7.5 million AED, Dana Gas with 5.4 million AED, ADNIC with 11.43%, while Gulf Cement was down 8 , 5%.

Nasdaq

The FTSE NASDAQ Dubai 20 index fell 0.29% to 3,228.79 points after trading 166,19,000 shares worth $ 1.15 million over 70 transactions. In the derivatives market, 1680 contracts worth 420 200 000 AED were traded in 4 transactions, Emaar contracting 1.34% and Union Properties 1.42%.

foreigners

With a net investment of 6.5 million dirhams and 5.3 million euros for foreigners and 1.24 million euros for nationals of Gulf countries, foreign investors and investors have had trend to buy, while investors and Arab citizens have sold with a net investment of 6.5 million dirhams, of which 3.8 million for Arabs and 2.7 million for citizens. The performance of the investment portfolios varied when they bought in Dubai with a net investment of AED 4 million, while they went on sale in Abu Dhabi with a net investment of AED 121,000.

Purchases

Non-Arab foreign investors focused yesterday on the Aldar Properties, Emaar Properties, Etisalat and Abu Dhabi Commercial and Gulf Public properties, while their sales focused on Dana Gas, Diyar Development, Abu Dhabi I and Union Properties.

Disclosures

Emirates Investment Bank reported net profit of AED 32.77 million for the first nine months of this year, compared to a profit of 44.38 million euros for the same period last year, down 26% .

The financial results of the National Insurance Company recorded a 52.89% drop in profits to settle at 39.37 million in the first nine months of the year, compared to 25, 75 million for the same period in 2017.

The Air Arabia Board of Directors will meet on Sunday to discuss the third quarter of 2018 financial statements.

The Board of Directors of Arabtec Holding will meet on Tuesday to review and approve the interim consolidated financial statements for the period ended September 30, 2018.

The Board of Directors of Amanat Holding Company was tasked to discuss the third quarter of 2018 financial statements, as well as regular and other matters.

National Industries Holding Group, listed on the Dubai and Kuwait Stock Exchanges, announced at a conference last Thursday that it was ranked as the first group on the Kuwaiti market.

Earnings from Emirates Driving Company reached 80.79 million AEDs in the first nine months of this year, compared to 73.3 million for the same period last year.