Institutional investing takes chances during a week of stock declines

Abu Dhabi: Muhannat Dagar

Pressure on United Arab Emirates stock markets increased for a second week in a row as indices gave up key support levels under the weight of tensions in the Middle East, with share prices of major companies falling to record lows.

The Dubai market fell 5.38% for the week with sharp declines in real estate, banking and utility stocks, while the Abu Dhabi market fell 1.86% on pressure from banking, industrial and real estate stocks.

In the face of these declines, the investment portfolios paid in net purchases worth AED 119.4 million in the Abu Dhabi market, in exchange for liquidation activities in Dubai, resulting in sales of AED 74 million in net investment.

The shares attracted a weekly turnover of 7.21 billion dirhams, of which 4.91 billion dirhams in the Abu Dhabi market, and 2.3 billion dirhams in the Dubai market, and a trading volume of 1.76 billion dirhams for shares distributed in 867.49 million shares in Abu Dhabi. , and 898.97 million shares in Dubai. This was done by executing 134 thousand transactions.

The Abu Dhabi market index fell 1.86% to 9,306.51 points, led by declines in financial, real estate, industrial, energy and communications sector indices.

In the financial sector, “First Abu Dhabi” was down 1.52%, “Abu Dhabi Commercial” was down 4.64%, “Abu Dhabi Islamic” was down 7.24%, “Multiplay” was down 10.53%, and “International Holding” was down 0.12%.

In real estate, shares of “Aldar Properties” fell 10.37%, “Ras Al Khaimah Properties” 9.81%, “Ishraq” 8.39%, and “Manazel” fell 4.21%. In industrials, shares of “Alfa Dhabi” fell by 6.77%, “ADNOC Logistics” by 2.25%, “Emirates Steel – Arkan” by 5.67%, “Marine Dredging” by 6.06%, and “Abu Dhabi Ports” by 0.7%. .

In energy, shares of “ADNOC Supply” fell 4.55% and “ADNOC Drilling” fell 6.32%, compared to stability of “ADNOC Gas” 0.63% and “Dana Gas”. “Virtglobe” shares fell by 9.57%, “Borouge” by 1.2%, “Bayanat” by 1.4% and “Burjeel” by 10.47%, while “Americana” increased by 2.15%.

Dubai market

The Dubai bourse fell 5.38% to 3751.57 points in a week, hit by sharp fall in shares of financial, real estate, industrial and utility companies.

In the financial sector, “Amlak” was down 1.7% compared to “Emirates NBD” down 5.9%, “Dubai Islamic” down 4.18%, “Dubai Financial” down 12.75%, and “Shuaa” down 2.7%. “GFH” 1. %.

In the real estate sector, shares of “Emaar Properties” fell by 12%, “Emaar Development” by 14.91%, “Deyaar” by 3.35%, “Tecom” by 3.3%, and “Union Properties” by 0.9%.

Among industrials, “Air Arabia” fell by 2.7%, “Aramex” by 5.3%, “Dubai Investments” by 4.7%, “Gulf Shipping” by 0.7% and “Salik” by 2.9%. In the utilities sector, “Deva” shares fell 5.18%, and “Empower” shares fell 13.26%, while “Tapreet” rose 0.28%.

Cash flow orientation

The list of stocks attracting liquidity in the Abu Dhabi market was topped by shares of “International Holding” with a value of one billion dirhams, ending at 400 dirhams, followed by “Alpha Dhabi” which attracted 587.6 million dirhams, reaching a The price of 17.62 dirhams, followed by “Multiplay”, attracted 458.5 million dirhams, closing at 3.23 dirhams, and fourth, “Abu Dhabi First”, with a cash flow of 335.7 million dirhams, ending at 13 dirhams.

Weekly trading in the Dubai market was led by shares of “Emaar Properties” with 809.7 million dirhams, which closed at 6.38 dirhams, followed by “Emirates NBD” with a turnover of 310.7 million dirhams, which closed at 16.65 dirhams, then “Gulfigation” traded at 236.6 million dirhams, 7.05 dirhams. and the fourth ” Dubai Islam”, attracted 192.8 million dirhams and 5.27 dirhams.

Ups and downs

Aram Group shares recorded the highest weekly increase of 24.9% in the Abu Dhabi market to close at 3.06 dirhams, followed by “Commercial International Bank” which rose 14.92% to 0.701 dirhams and then “Umm Al Quwain General Investments”. 1.15 dirhams up 12.75%.

On the other hand, “ADC Corporation – Executives” registered the biggest decline of 13.36% to 2.27 dirhams, followed by “Sudatel” which fell 12.86% to 0.305 dirhams, and then “ISG” declined 10.71%. 5.5 to close at Dirham.

The highest weekly increase in Dubai was recorded by “Al-Firdous Holding” share of 76% to 0.565 dirhams, followed by “Ektitab Holding” which rose 14.35% to 0.231 dirhams and then “Ithmaar Holding” 11. % of 0.222 Dirhams.

On the other hand, “Emaar Development” posted the biggest decline, 14.91%, to close at 5.65 dirhams, followed by “Empower”, down 13.26% to 1.57 dirhams, followed by “Dubai Financial”, which fell. 12.75% to 1.3 dirhams.

Nationalities

As for the trading of nationals in the Abu Dhabi market during the week, Gulf investors moved towards buying, with a net investment of 72.4 million dirhams as a result of purchases, on the other hand, Arab and foreign investors and citizens moved towards liquidation, resulting in a net investment of 72.4 million dirhams, of which 27 million dirhams were the result of Arab sales. 21.5 million dirhams from sales to foreigners, and 23.86 million dirhams from sales to citizens.

In Dubai, Gulf investors and nationals tended to buy, with net investment of 236.6 million dirhams, of which 27.28 million dirhams resulted from purchases by Gulf nationals and 209.3 million dirhams from nationals. .

On the other hand, Arab and foreign investors moved towards liquidation with a net investment of 236.6 million dirhams, of which 1.68 million dirhams were proceeds from sales by Arabs, and 234.9 million dirhams were proceeds from sales. Foreigners.

Companies

The performance of investment portfolios towards buying in the Abu Dhabi market varied over the week, with one purchase resulting in a net investment of 119.4 million dirhams, while the Dubai market liquidated with a net investment of 73.9. A sale results in millions of dirhams.

On the other hand, individual investors tended to buy in the Dubai market, with a net investment of 73.9 million dirhams as a result of purchases, while they tended to liquidate in Abu Dhabi, with a net investment of 119.4 million dirhams as a result of sales.