Emirates News Agency – Local shares gain Dh10.4bn, Dubai market at highest level in 8 years

ABU DHABI, 21st September, 2017 (WAM): Local bourses consolidated their gains at the end of today’s trade, with their market capitalization above 10.4 billion dirhams, amid strong liquidity of nearly 2.5 billion dirhams.

The Dubai Financial Market continued its rise towards its highest levels in more than 8 years, while the Abu Dhabi Securities Market extended its gains for the third consecutive session.

The market capitalization of listed stocks increased from 3.564 trillion dirhams at the end of yesterday’s session to 3.574 trillion dirhams at the end of today’s session, with 2.87 trillion dirhams distributed to listed stocks and 704.4 billion dirhams in shares on the Abu Dhabi Securities Market. The Dubai financial market has crossed the 700 billion dirham barrier for the first time in its history.

Local stocks attracted liquidity of about 2.45 billion dirhams, 1.53 billion dirhams were distributed in the Abu Dhabi market and 916.2 million dirhams in the Dubai market, and about 532.2 million shares were traded by executing more than 32.5 thousand transactions.

– Abu Dhabi Market.

The FTSE Abu Dhabi general market index “FADGI” rose 0.24% or equivalent to 23.4 points to end at 9,845.99 points, while the “FADEX 15” index gained about 0.25% to close at about 24.39 points. At 9,557.56 points, the real estate sector index rose by around 6.67% and energy by 0.66%, services by 0.57% and financials by 0.04%.

“Aldar Properties” was the top gainer with a gain of 7.9%, while “Abu Dhabi Islamic” gained 2.32%, “ADNOC Drilling” gained 1.29%, “Vertiglobe” gained 1.14% and “ADNOC Logistics” gained 0.82%. , and “Yahsat” 0.77%. “Taqa” 0.57%, “First Abu Dhabi” 0.44%, “ADNOC Distribution” 0.26%, and “Abu Dhabi Commercial” 0.23%.

“Aldar Properties” was the largest share in the trade with about 325.9 million dirhams up to 5.87 dirhams, followed by “International Holding” which attracted 221.5 million dirhams to close up to 406 dirhams, then “Abu Dhabi Ports” reached 160 million dirhams. Dirhams and “Alfa Thabi.” 116.5 million dirhams, reaching the level of 20.48 dirhams.

– Dubai market.

The general index of the Dubai Financial Market rose 1%, or 41.28 points, to end at 4179.68 points, its highest level since August 2015, supported by a 3.41% gain by shares in the real estate sector. Communications 0.76%, Finance 0.49%, Services 0.43%, and Industry 0.21%.

The Dubai market’s performance was boosted by gains in real estate stocks, with “Emaar Properties” up 6.4%, “Tecom” up 1.12% and “Deyaar” up 0.29%. “Dubai Islamic” shares also rose. 1.57%, “Dubai Financial Market” 2.46%, and “Al Arabiya” shares increased 1.57%. Aviation 1.45%, Dubai Investments 0.82%, Empower 1.6%, Tabreed 0.85%, and Du 0.76%.

“Emaar Properties” led the action, attracting about 394.2 million dirhams in cash flow, followed by “Dubai Islamic” 127.1 million dirhams, then “Emirates NBD” 64.2 million dirhams and “Emaar Development” 57 million dirhams.