The Dubai Financial Market Index experienced a rise during Wednesday’s session, closing up by 0.4% at 5613 points. This marks the highest closing level since June 2008, with total trading volume amounting to 699 million dirhams.
Stocks in the financial services, shipping, and utilities sectors led the gains in the Dubai Financial Market. Notably, the shares of “Majid Al Futtaim” surged by 8.7%, followed by “Agility” at 4.7%, and “Taaleem” at 3.7%. Other notable performers included “Al Ramz” with a 3.4% increase and “Dubai Financial Market” shares rising by 3%.
Emaar Properties shares closed up 0.4% at 13.45 dirhams, while “Deyaar” saw an increase of 2.3% to 1.33 dirhams.
The most traded stock was Drake & Scull International, which rose by 1% to 0.308 dirhams, with over 40 million shares exchanged.
On the other hand, the stocks that declined the most in the Dubai Financial Market included “Al Mal Capital REIT” down 8.7%, “Ekttitab” down 4.1%, and “Dubai National Insurance” down by 4%. “Financial Consultations” shares fell by 3.1%, and “Union Properties” dropped by 0.7% to 0.676 dirhams.
Abu Dhabi
The Abu Dhabi Securities Exchange Index rose by approximately 0.2% to reach 9811 points, with a total trading value of 1.3 billion dirhams.
The investment and industrial sectors saw the highest gains in Abu Dhabi, led by “E7 Group,” which soared by 14.9%. Following this, “Sharjah Cement” increased by 13.6%, “Gulf Investment Corporation” rose by 11.2%, and “Rapco” grew by 10.5%. “Adnoc Gas” shares closed up 0.6% at 3.390 dirhams, and “Precitec AI” increased by 7.5% to 3.150 dirhams, reaching the highest closing value since September 2023. “Ras Al Khaimah Properties” also increased by 3.2% to 1.310 dirhams.
The most traded stock was “Space 42,” which rose by 4.6% to 1.830 dirhams, with trading exceeding 42 million shares.
Meanwhile, “Etisalat” saw a decline of 9.5%, “Waha Capital” fell by 3.2%, “Aldar” decreased by 1.2%, and “Aram” dropped by 1.9%.
Liquidity and Transactions
The liquidity in the markets reached nearly 2 billion dirhams, with over 43,900 trades executed. Specifically, Abu Dhabi Securities Exchange accounted for 1.3 billion dirhams through 28,500 transactions, while Dubai’s market liquidity approached 700 million dirhams over more than 15,400 trades.
Arab Markets
Most Arab stock indices saw gains, with Kuwait’s indices achieving collective growth, as the first index increased by 0.67%. Qatar’s index rose by more than 1%, closing at its highest level in two weeks, while Bahrain’s index climbed by 0.47%. In contrast, Muscat’s index fell by 0.59%, breaking the upward trend seen in other Arab markets.
Saudi Arabia
The Saudi market index finished the session up by 0.1%, closing at 10,974 points, with total trading volume of around 6.1 billion riyals.
The stock of Al Ahli Saudi rose by 1% to 35.65 riyals. Conversely, Aramco’s stock saw a decline of 1% to 24.14 riyals, and “Acwa Power” closed down by 1% at 248.60 riyals.
Egypt
The Egyptian stock market finished the session with a collective rise for the fourth consecutive day, driven by buying activity from local and foreign investors, while Arab investors leaned towards selling. Trading volume reached 5.4 billion Egyptian pounds, adding 28 billion pounds to the market capitalization, which closed at 2.339 trillion pounds.
The EGX 30 index increased by 1.24% to close at 33,002 points, and the EGX 30 Weighted Index rose by 1.23%, closing at 41,085 points. Furthermore, the EGX 30 Total Return Index witnessed a growth of 1.27%, ending at 14,821 points.
Jordan
The Jordanian stock market saw an increase supported by purchasing activity in leading stocks, particularly in Arab Bank stocks, with solid liquidity in play. The overall index closed up by 0.76% at 2714.52 points, with trading valued at 9.4 million dinars (19.8 million dollars). “Jordan Potash” shares rose by 1.53%, and “Phosphate Mines” increased by 1.59%. Additionally, “Jordan Petroleum Refinery” shares increased by 1.63%, and Arab Bank shares climbed by 1.67%.