The Dubai Financial Market Index continued its upward trend for the fifth consecutive session, concluding Thursday with a gain of 1.3%, reaching a level of 5684 points, with total trading valued at 955 million dirhams.
Dubai’s financial market is leading the rise among Arab stock exchanges, achieving its highest close since June 2008.
The most traded stocks included “Sukoon Insurance” with an increase of 11.4%, followed by “Chimera S&P UAE” at 6.1%, and “National International Holding” rising by 3.8%. Additionally, “Dubai Islamic Bank” climbed 4.9% to 9.18 dirhams, with nearly 19 million shares traded, marking its highest close since April 2006.
Emaar Properties’ stock remained stable at 13.45 dirhams, while “Talabat Holding” saw an increase of 0.8% to 1.34 dirhams, and “Union Properties” rose by 2.8% to 0.695 dirhams.
Among the most active stocks, “Drake & Scull” increased by 0.3% to 0.309 dirhams, with trading surpassing 108 million shares.
Conversely, the stocks that declined the most were “International Financial Consulting” (-9.8%), “Bank of Khartoum” (-1.4%), “Salama” (-0.9%), and “Dubai Real Estate Investment Trust” (-0.8%).
The Dubai Financial Market also recorded a significant direct transaction involving Gulf Navigation Holding shares valued at 11.4 million dirhams. According to market data, the transaction involved two million shares representing 0.2% of the company’s capital, priced at 5.68 dirhams per share.
The Dubai Financial Market announced the suspension of trading on the shares of Deyaar Development coinciding with a board meeting. According to the company’s statement, banking facilities were not discussed during the meeting, though some routine matters regarding the company’s operations were approved. The board was updated on the company’s projects and approved various aspects related to these projects during their meeting on Thursday.
Abu Dhabi
The Abu Dhabi Securities Exchange Index rose by approximately 0.8%, reaching 9886 points, with total trading amounting to 1.9 billion dirhams.
The stock of ADNOC Gas closed up by 0.6% for the second consecutive session at 3.410 dirhams. Meanwhile, “Ishraq Investments” increased by 4.3% to 0.456 dirhams, and “Multiplex Group” rose by 2.6% to 2.350 dirhams. Furthermore, “Alpha Data” surged by 6.4% to 1.660 dirhams, reaching its highest close in the Abu Dhabi market since its listing in March.
Among the top gainers were “Gulf Investment” increasing by 7.9%, “Abu Dhabi Building Materials” by 7.4%, and “Alpha Data” by 6.4%.
The most traded stock was Ras Al Khaimah Properties, which rose by 7.6% to 1.410 dirhams, recording its highest close since April 2014, with over 135 million shares traded.
On the other hand, the stocks that saw the largest declines included “Emirates Oman Investment” (-10%), “Sharjah Cement” (-3%), “Brilliant AE” (-2.8%), and “Ras Al Khaimah White Cement” (-1.7%).
Arab Stock Markets
Most Arab stock market indices rose, with the exception of Muscat, supported by increasing oil prices and the stability of the ceasefire between Israel and Iran, while the Egyptian market was closed.
The Kuwait Index increased by 0.67%, and the Qatar Exchange by 0.39%, while the Bahrain Index remained unchanged and the Muscat Index declined by 0.15%.
Saudi Arabia
The Saudi market index closed up by 0.9%, ending at 11068 points (+94 points), with total trading valued at approximately 5.7 billion riyals. The market witnessed 11 special transactions amounting to 288.2 million riyals, with the most significant being on 5 million shares of Aramco at a price of 24.18 riyals per share.
Stocks of Saudi Aramco, Al Rajhi Bank, and National Commercial Bank rose by 1% each.