Amid the prevailing wave of optimism regarding the resolution of regional tensions, stock indices in Dubai and Egypt led the gains in Arab markets. The Dubai index surged by 3.4%, reaching 5593 points, with a total trading volume amounting to 1.2 billion dirhams.
In Dubai’s market, shares of 43 out of 52 companies increased, while 5 companies saw declines, and 4 remained unchanged.
The highest gains in the Dubai Financial Market were recorded by companies in the industrial sector, aviation, and finance. Notably, “National Cement” shares rose by 8.7%, “Air Arabia” by 7.83%, and “Dubai National Insurance” increased by 7.82%. Other significant gainers included “Emirates NBD” shares rising by 6.7% and “Al Kitabah” shares climbing by 6.1%.
The stock of “Emaar Properties” also increased by 5.1%, closing at 13.40 dirhams, while “Dubai Islamic Bank” shares grew by 4% to 8.85 dirhams, and “Union Properties” was up by 1.6% to 0.681 dirhams. In addition, “Shuaa Capital” shares gained 4.7%.
The most traded stock was “Talabat”, which rose by 0.8% to 1.30 dirhams, with nearly 60 million shares traded.
On the downside, the shares of “International Financial Consulting” faced the most significant drop, down by 10%, followed by “Dubai Refreshments” at 9.8% and “Spinneys” at 3.1%, while “Ithmaar” shares decreased by 0.5%.
Abu Dhabi
The Abu Dhabi Securities Exchange index rose by approximately 2.5%, reaching 9795 points, with total trading volumes hitting 2.1 billion dirhams. Of the 90 companies listed, shares for 72 companies increased.
Leading the gainers were investment sector stocks, with “E7 Group” shares climbing 14.7%. “Phoenix Group” shares saw an increase of 14.2%, and shares of the “Sharjah Cement” rose by 11.6%. “Aldar Properties” also rose by 10.0% to close at 8.900 dirhams.
Other notable gainers included “Multiplex Group” shares which increased by 6.5%, while “Abu Dhabi Islamic Bank” shares grew by 5.9% to 20.420 dirhams.
The most actively traded stock was “ADNOC Gas”, which rose by 1.2% to 3.370 dirhams, with nearly 50 million shares changing hands.
The only declines were seen in “Gulf Cement” shares, down 1.29%, and “Abu Dhabi Shipbuilding” shares, down 1.25%.
Liquidity and Transactions
Liquidity on the Dubai Financial Market and the Abu Dhabi Securities Exchange exceeded 3.2 billion dirhams across over 65,100 transactions, with 2.1 billion dirhams in Abu Dhabi from 42,453 transactions, and 1.2 billion dirhams in Dubai from approximately 22,700 transactions.
Arab Markets
All Arab stock exchanges experienced increases, with the Saudi TASI index rising by 2.4%, the Kuwait index up by 2.2%, the Qatar index climbing 1.9%, the Bahrain index increasing by 1.4%, and the Muscat index up by 0.3%. The main index in Egypt rose by 3.76%, while Jordan’s index increased by 1.13%.
Saudi Arabia
The Saudi market closed with the index up by 2.4%, closing at 10,964 points (+254 points), marking the highest close in two weeks, with active trading totaling approximately 8.5 billion riyals, the highest in about a month.
Most traded stocks saw increases, with shares of Al Rajhi Bank, National Commercial Bank, and ACWA Power rising by 3%.
“Flynas” shares closed at 79.20 riyals (+7%), with trades totaling around 5.5 million shares, valued at over 430 million riyals.
Conversely, Saudi Aramco shares fell by 2% to 24.34 riyals, marking the lowest closing since 2020, with around 36 million shares traded valued at close to 900 million riyals. “SABIC Agri-Nutrients” shares led the declines with a decrease of 5%.
Egypt
The Egyptian stock exchange concluded its trading session with collective index gains for the third consecutive session, spurred by buying activity from both local and foreign traders, while Arab traders leaned toward selling. The total trading value reached 6.3 billion pounds, with the market capitalization increasing by 78 billion pounds, closing at 2.311 trillion pounds.
The EGX 30 index rose by 3.76%, closing at 32,598 points, while the EGX 30 Weighted index increased by 3.62% to end at 40,588 points. The EGX 30 Total Return index jumped by 3.76%, closing at 14,640 points.
Jordan
The Jordanian stock market saw a significant rise supported by purchases in key stocks such as Arab Bank amid healthy liquidity.
The general stock index closed up by 1.13% at 2694.13 points, with trading valued at 14.1 million dinars (approximately 19.8 million dollars).
Shares of the Jordan Petroleum Refinery rose by 0.82%, and Mining and Phosphate shares increased by 2.37%, while Arab Bank shares gained 3.85%. Conversely, “Arab Potash” shares decreased by 1.92%.