The profits on real estate and banks are falling in the markets

Local stock markets fell at the end of yesterday's session on selling pressure and profit taking on the major shares of the real estate and banking sectors, despite continued purchases abroad, but at a slower pace than previous sessions, with liquidities remaining at modest levels.

The Dubai market fell by 0.55% to 2,738 points, with shares in real estate, banks and insurance, while that of Abu Dhabi fell by 0.89% to 4926. 28 points were penalized by the fall in equities in banks, real estate, energy and industry.

The liquidity of the two banks reached 282.62 million AED, including 141.12 million in Dubai and 141.5 million in Abu Dhabi, of which 200.9 million shares, of which 149.4 million in Dubai and 51, 5 million through 3008 transactions.

Immovable

The decline in the Dubai property market was followed by a 1.5% decline, followed by Emaar Properties (2.99%), Arabtec (3.7%), Drake & Scull (2.48%) , Emaar Properties (1.09%) and Union Real Estate (2.03%). National Bank of Dubai 0.11%.

On the other hand, the investment sector grew by 1.29%, Dubai Investment by 1.28% and Dubai's financial markets by 2.12%, while the transport sector rose slightly with the increase of 0.95%. % and the stability of Aramex.

Gulf Navigation was the spearhead of the Dubai market with a liquidity of 37.76 million AED, followed by Salam Bahrain with 16 million AED and Drake & Scull with 6 million AED. International Financial Advisors was the biggest gain of 8.2%, while Al Salam Bank Bahrain was the biggest loser by 5.42%.

banks

The Abu Dhabi market fell 1.42% after the first decline of Abu Dhabi (1.77%) and Abu Dhabi Commercial (0.8%). Real estate also fell 1%, with Aldar falling 1.18% and losing 0.17%.

The energy sector fell 1.83%, Dana Gas fell 0.86% and energy 7.83%, while the ADNOC remained unchanged. On the other hand, the telecommunications sector grew by 0.48% and Etisalat saw the same increase.

Zawahis dominated Abu Dhabi with a business turnover of 51.75 million AED, followed by Abu Dhabi First with 29.3 million AED and Etisalat with 14.26 million AED. The biggest winner was Areeq, who gained 5.85%, while Arkan Building Materials was the biggest loser of 9.9%.

foreigners

Arab and Gulf investors as well as foreign investors invested in both markets yesterday with a net investment of about 14 million AED, including 7 million for foreigners, 6 million for Gulf and 778 thousand dirhams. for the Arabs.

Nasdaq

The FTSE NASDAQ Dubai 20 index fell 0.94% to 3,195.52 points after 259.83,000 shares worth more than $ 4 million through 119 transactions. In the futures market, 1,541 contracts worth AED 277,400 were traded: Damac contracts increased by 3.5% and Aldar contracts decreased by 1.18%.

Disclosures

Arabtec Construction Company, a subsidiary of Arabtec Holding Company, has won a 299 million AED contract with Damac Properties for the construction of 478 villas on the Akoya Oxygen project, as well as a 311 million AED contract with Expo 2020.

The Emirates NBD Board of Directors will review the financial statements for the third quarter of this year at its meeting on Monday.

UB Capital, a subsidiary of Union Properties Group, plans to raise the capital of the Egyptian company Palm Hills Development Company.

GFH Financial Group, which is listed on the Dubai, Kuwait and Bahrain Stock Exchanges, has decided to terminate its liquidity agreement with Al-Ramz Capital as of November 26, 2018 because of its interest in buying back shares on the stock exchange. market.

Next Tuesday, the board of directors of Al Mazaya Holding, listed on the Dubai and Kuwait Stock Exchanges, will discuss the interim financial information for the period ended September 30, 2018.

Gulf General Investment Company (GIGCO) announced that the meeting of its board of directors would be postponed until October 31, 2018, after the impossibility of meeting on Wednesday.

The Takaful House Board of Directors will meet on Tuesday to discuss the work arising from the minutes of the previous meeting and any other matters.

The Emirates Islamic Bank Board of Directors will meet next Monday to review the interim financial statements for the third quarter of 2018.

National Investor has announced the resignation of Saeed bin Mohammed bin Ahmed Al Qasimi from its board of directors due to particular commitments.

The board of directors of Oman & Emirates Investment Holding Company will hold its meeting on November 7 to review and approve the financial results of the third quarter of this year.

Exa Green Crescent Insurance Company will hold a general meeting on November 11 to review and approve the amended bylaws and amended bylaws to amend section 7 of the Act.