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Local stock markets clashed at the end of yesterday's session against partial earnings pressures to close slightly lower after sharp rises in recent sessions as investors were optimistic about the results mid Road. The Abu Dhabi market lost about 8.5 points or 0.18% to close at 4738.59 points with falling real estate, telecommunications, industry and commodities .
Total liquidity of the market reached 308.14 million AED 194.14 million In Dubai, 114 million in Abu Dhabi, 203.35 million shares were exchanged, of which 172.35 million in Dubai and 31 million in Abu Dhabi through 3617 transactions.
Iqbal Institutions
Raed Diab, KAMCO's research department said the markets were able to consolidate against partial pressure on profits yesterday after gains in recent sessions following the Domestic and foreign institutional demand to buy stocks optimistically leaders on the mid-term results of companies and banks. That the Dubai market still needs some momentum on the resistance zone at 2950 – 3000 points to reduce The risk of falling again and increase the chances of climbing to 3065 and 3100 points, while the Abu Dhabi market is expected to close nearly 4745 points to predict another leap of around 4900 and 5,000 points.
Diab is expected to reconnect with a new business At the second market in Abu Dhabi, but believes that the summer holiday season may affect liquidity.
The decline of the property
The Dubai market fell with the decline of the real estate sector by 0.46% Drake & Scull rose by 2.8%, Arabtec by 0.9% %, Union Properties 1.23% and banking sector 0.17% Dubai Financial Market (DFM) rose 0.5%, Dubai Investment rose 1% and the transportation sector rose 1, 1% thanks to the rise of Aramex. Compared with a decline of 3.02% compared to the decline of Air Arabia 0.93% and Gulf Navigation 0.82%.
Drake & Scull led activity by 52.3 million AED, Dubai Islamic Bank with AED 18 million, followed by Emaar Properties The National Industries Holding Company posted the largest increase of 8.3%, while that the Takaful house lost 4.28%.
The decline of communications
The Abu Dhabi market has dropped The real estate sector accounts for 1% with Aldar down 1.4% against Asharq 1.59%, the Telecom sector down 0.86% with Etisalat losing the same.
The banking sector increases by 0.12% Abu Dhabi First and Abu Dhabi Commercial Bank, while the energy sector gained 0.43%, Dana Gas gaining 0.95%
Abu Dhabi First recorded 45.3 million AED, followed by Etisalat with AED 26.3 million, followed by "Abu Dhabi Commercial" with a liquidity of 13 million dirhams, led by the United Arab Bank winners, up 14.85% , while Sudatel lose 3.7%. Foreign investors and Gulf investors have tended to buy with a net investment of 25 million from AED, of which 19.4 million for GCC nationals and 5.4 million for foreigners, compared with 25 million for 39 AED for investors and Arab citizens, including 6 million Arabs. And 19 million for citizens
The contrast in the performance of investment portfolios, where they tended to buy in Abu Dhabi with a net investment of 33.5 million dirhams, and went on sale in Dubai with a net investment of 11 million dirhams.
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