On Wednesday, the stocks of “Emaar Properties” and “Emaar Development” continued to capture the largest share of liquidity in the Dubai Financial Market for the second consecutive session, totaling over 313.3 million dirhams, which is approximately 46.4% of the overall market liquidity of 674.7 million dirhams.
The Dubai Financial Market index closed near the 5670-point mark, bolstered by shares from the financial and utilities sectors, ending at 5669.15 points, a decline of 0.41%.
Leading the increase in the Dubai market was the share of “National Cement,” which rose by 12.7%, while “Mazaya Holding” jumped by 10.5%, “Emirates REIT” by 6.5%, “Sukoon Takaful” by 4.3%, and “Dubai Islamic” by 0.78%.
Conversely, shares of “National Industries” fell by 9.7%, “Dubai National Insurance” by 8.66%, “Al-Firdous Holding” by 4.4%, and “Dubai Refreshments” by 2.8%. The share of “Emaar Properties” decreased by 0.4% to 13.45 dirhams, while “Union Properties” saw a decline of 1.9% to 0.732 dirhams, and “Salik” fell by 1.3% to 5.95 dirhams.
Foreign investors (non-Arabs) showed a buying trend in the Dubai market with a net investment of 51 million dirhams, having made purchases worth 290 million dirhams compared to sales of approximately 239 million dirhams.
Abu Dhabi Market
Meanwhile, the FTSE Abu Dhabi General Index “FADGI” closed at 9919.82 points, down by 0.09%.
“International Holding Company” led activity in the Abu Dhabi market with the largest share of total trades at 126 million dirhams, followed by “Abu Dhabi Commercial Bank” with 77.3 million dirhams, and then “Aldar Properties” with 59.2 million dirhams.
Notably, among the rising shares in the Abu Dhabi market were “Gulf Pharmaceutical Industries” at the maximum increase of 14.5%, “Abu Dhabi Ship Building” at 6.9%, “Al Wathba National Insurance” at 5.56%, and “Gulf Investment” at 3.2%. The share of “ADNOC Drilling” increased by 1.8% to 5.790 dirhams, and “Borealis PLC” rose by 0.8% to 2.570 dirhams.
On the other hand, shares of “Fujairah Cement” dropped by 4.6%, “Taqa” by 2.24%, “Sudatel Communications” by 2.9%, and “Sharjah Cement” by 2.06%.
Furthermore, “Ras Al Khaimah Real Estate” shares decreased by 0.7% to 1.430 dirhams, while “Aldar Properties” also fell by 0.7% to 8.820 dirhams.
Market Capitalization and Liquidity
The total capitalization of local stocks reached approximately 4.045 trillion dirhams, with 3.060 trillion dirhams for stocks listed on the Abu Dhabi Securities Exchange and 987.97 billion dirhams for those listed on the Dubai Financial Market.
Local stock markets attracted liquidity of about 1.76 billion dirhams, with 1.08 billion dirhams in the Abu Dhabi Securities Exchange and 674.7 million dirhams in the Dubai Financial Market, following the trading of 581.8 million shares through 38.25 thousand transactions.
Arab Markets
In the broader Arab stock exchanges, the Saudi “TASI” index increased by 0.07%, Muscat by 0.25%, Bahrain by 0.32%, and Qatar by 0.008%, while the Kuwaiti market decreased by 0.55%. Furthermore, outside the Gulf region, the Egyptian stock exchange rose by 0.35%.
Saudi Arabia
Specifically, the Saudi market index “TASI” rose by 0.07% to close at 11130 points, with total trading valued at about 5.4 billion riyals.
Saudi Aramco shares climbed by 1% to 24.55 riyals, while Arabian Drilling shares increased by 4% to 82.35 riyals, leading market gains at a rate of 10% to 2.48 riyals, amid trading of around 31 million shares.
In contrast, the share of Al Rajhi Bank decreased by less than 1% to 94.65 riyals, and Aqua Power fell by 2% to 244 riyals. Shares of Bahri, BSF, Alawwal Bank, Makkah Construction, Dar Al Arkan, Elm, and Suliman Al Habib dropped between 1% and 3%.
Egypt
Egyptian stock indices rose collectively, driven by purchasing activities from local investors. Trading amounted to 5.2 billion Egyptian pounds, with a market capitalization gain of 12 billion pounds, closing at 2.338 trillion pounds.
The “EGX 30” index increased by 0.35% to reach 32820 points, and the “EGX 30 Weighted” index rose by 0.5% to 40781 points, while the “EGX 30 Total Return” index climbed by 0.35% to 14740 points.
Additionally, the “EGX 70 Equal Weight” index rose by 1.25% to close at 10006 points, and the “EGX 100 Equal Weight” index increased by 1.12% to finish at 13498 points, while the Islamic index gained 0.63% to close at 3422 points.
Jordan
The Jordanian stock market experienced a significant rise, supported by buying in leading stocks, particularly the share of Phosphate Mines, along with an improvement in liquidity.
The general index closed up 1.17% at 2807.74 points, with trading value reaching 14.5 million dinars (20.4 million dollars) compared to 11 million in the previous session.
Shares of Arab Potash rose by 0.6%, Arab Bank by 0.88%, Petroleum Refinery by 0.99%, and Phosphate Mines by 6.89%.