Equity performance varied amid low liquidity

Local stock closings varied, at the end of yesterday’s session, amid the absence of incentives, and investors awaited the start of the quarterly corporate results marathon, which plunged liquidity below 350 million dirhams.

The Dubai market fell by 0.93% to 2,244.63 points, amid a quasi-collective decline in sectoral indices, excluding transportation, while the Abu Dhabi market rose 0.02% at 4,492.89 points, supported by real estate, telecommunications, energy and commodities stocks.

The shares attracted liquidity at about 327.5 million dirhams, of which 104.3 million in Dubai and 223.2 million in Abu Dhabi. And 243.57 million shares were traded, distributed by 174.4 million in Dubai, and 69.17 million in Abu Dhabi, through 3450 transactions.

Dubai market

And pressure on the Dubai market, the real estate sector fell 1.41%, with a decline in «Emaar Properties» 1.77%, «Emaar Development» 0.83%, «Emaar Malls» 2.7%, «Union Properties» 1.37%, and «Deya» 0.35% While “DAMAC” rose 1.53%, and the banking sector fell 0.93%, following the decline of “Dubai Islamic” 2.08%.

The investment sector fell 1.58%, under pressure from the decline of “Dubai Investments” by 1.73%, “Dubai Financial Market” 1.54%, while “Shuaa Capital” rose 0.15%. While the transport sector increased 0.76%.

Aramex dominated the activity, attracting 13 million dirhams, followed by Emaar Properties, 13 million. And «Anne Digital Services», the largest increase by 5.45%, while «Gulf Navigation» the lowest by 5%. Gulf investors and citizens bought in Dubai, with a net worth of 32 million dirhams, while Arab and foreign investors are selling.

Abu Dhabi Market

And the cohesion of the Abu Dhabi market, drawing on support from the real estate sector, with a rise of 0.5%, on the impact of the rise of «Aldar» by the same rate, while «Ras Al-Khaimah Real Estate» rose 0.52%, and the telecommunications sector rose 0.12%.

The energy sector increased 1.77%, with “TAQA” increasing by 5.07%, “Dana Gas” by 1.96%, and “ADNOC Distribution” falling 0.28%. The banking sector fell 0.17%, with Abu Dhabi Commercial falling 1.07%, Abu Dhabi Islamic Bank 0.71%, while First Abu Dhabi stabilized. The investment sector declined 0.02%.

“Global Holding” led the activity, attracting 66.3 million dirhams, followed by “First Abu Dhabi” 36.5 million. “TAQA” achieved the largest increase by 5.07%, while “Abu Dhabi National Hotels” was the lowest, by 4.9%. Citizen investors tended towards buying, with a net worth of 15.94 million dirhams, while Arab, Gulf and foreign investors tended towards liquidation.

Institutions

The performance of institutions varied, as they tended to buy in Abu Dhabi, with a net investment of 6.94 million dirhams, and towards selling in Dubai, with a net 13.9 million dirhams, while individual investors tended to buy in Dubai, with a net 13.9 million, and toward liquidation in Abu Dhabi with a net 6.94 million dirhams.

Disclosures

– Etisalat requested its shareholders to visit its website, in order for them to verify the existence of cash dividends that had not yet been received, for the period prior to March 1, 2015, or to directly contact First Abu Dhabi Bank.

The board of directors of “DXB Entertainment” is considering the resignations submitted by the two board members: Malek Al Malik and Mukesh Sudani, during its meeting, tomorrow, where the board will discuss calling for the general assembly to convene, subject to obtaining the approval of the Securities and Commodities Authority, to elect a board New management of the company.

– «Ishraq Investment» company said that the review process of the company’s shares confirmed that it is eligible to obtain the classification of compliance with the provisions of Islamic Sharia.

Abu Dhabi National Insurance Company announced that it has obtained the approval of the Securities and Commodities Authority, to purchase no more than 10% of its 570 million shares.

The Board of Directors of Al-Alamiah Holding approved the appointment of Dr. Muhammad Ajliqin as Vice Chairman. The Council also approved the restructuring of the committees.

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