UAE stocks gain 55.8 billion dirhams in one week

UAE stock markets gained more than Dh55.8 billion at the end of trading in the first week of August, and its market capitalization gained more than Dh55.8 billion, positively correlated with listed companies’ announcements of strong profits in the first half. This year.

The market capitalization of listed stocks increased from 2.575 trillion dirhams at the end of last Friday’s session to 2.63 trillion dirhams at the end of today’s session, with 2.073 trillion dirhams distributed to listed stocks and 557.54 billion dirhams to shares on the Abu Dhabi Stock Exchange. Listed on the Dubai Financial Market.

6.78 billion dirhams were distributed in the Abu Dhabi market and 1.17 billion dirhams in the Dubai market. About 1.758 million shares were traded in over 73.4 thousand transactions.

Abu Dhabi Market

The FTSE Abu Dhabi general market index rose 2.9% or 280.2 points for the week to end at 9929.16 points, hitting its highest level in more than two months since the end of last May, mainly supported by growth in indexes. Finance, communication, basic goods, energy and services sectors.

The rise of the Abu Dhabi market during the week supported the growth of shares such as “International Holdings” by 9.2% to 323 dirhams, topping the most active list in terms of values, and attracting more than 1.7 billion dirhams in liquidity. » 2.79%, “TAQA” 2.4%, “ADNOC Distribution” 0.93%, and “First Abu Dhabi” 0.82%.

Shares of “I&E – Telecom Formerly” rose 1.51% after the company announced this week that it achieved a net profit of around 4.9 billion dirhams for the first half of the week, a growth of 2.5%.

“Ras Al Khaimah Ceramics” rose 4.9% as the company announced a rise in net profit for the first half of the year to 171.9 million dirhams, while “Abu Dhabi Aviation” shares rose 2.52%. In the first half of this year, it posted a net profit of 25.7% year-on-year.

Dubai market

On the Dubai market, the stock of “TECOM” rose 2.99% as the company reported a 43.4% increase in net profit this week to 428 million dirhams in the first half of the year.

Also during the week, shares of Dubai Electricity and Water Authority “Deva” 0.39%, “Air Arabia” 4.09%, “Dubai Investments” 0.43%, “Shua Capital” 0.2%, “Gulf Navigation” 4.37%, and financing “Amlak” 14.6%. .