The closing of local stocks varied for the second consecutive session at the end of yesterday’s session, with the continued absence of incentives and the control of anticipation on sentiment awaiting the quarterly results of companies, while selective buying reinforced the rise of some shares led by “Emirates NBD”, “Aramex” and “Abu Dhabi Commercial” And «communications». The Dubai market fell 0.57% to 2,212.73 points, with the decline in real estate, insurance, investment, transportation and services shares, while the Abu Dhabi market rose 0.26% to 4494.52 points, with the rise in banking, communications, investment and commodity shares. The shares attracted liquidity by about 467.7 million dirhams, of which 140.6 million were in Dubai and 327.14 million in Abu Dhabi, and 333 million shares were traded, distributed by 237.9 million in Dubai and 95 million in Abu Dhabi, through 5261 deals.
Dubai market
The Dubai market was affected by a decline in the real estate sector by 1.73%, with “Emaar Properties” dropping 1.48%, “Emaar Development” 1.68%, “Emaar Malls” 2.75%, “Union Properties” 1.12%, “Deyaar” 2.12%, and “Damac” 1.66%, The investment sector fell 0.89%, and the transport sector fell 0.42%. The banking sector rose 0.02%, with Emirates NBD growing 0.47%, while Dubai Islamic dropped 0.47%. «Emaar Properties» dominated the activity, attracting 30 million dirhams, followed by «Ithmaar» 22.74 million dirhams. Ithmaar topped the winning shares, by 5.61%, while Aman was the lowest, by 4.58%. Arab and Gulf investors and citizens bought in the Dubai market with a net worth of 35.7 million dirhams, while foreign investors tended to sell.
Abu Dhabi Market
The rise of the Abu Dhabi market boosted the rise of the banking sector by 0.09%, with Abu Dhabi Commercial rising 1.28%, while First Abu Dhabi stabilized, Abu Dhabi Islamic fell 0.72%, the telecom sector rose 0.96%, and the investment sector increased 0.07%. The energy sector fell 0.4%, and the real estate sector did not witness any significant change. «First Abu Dhabi» led the trades, attracting 87 million dirhams, followed by «International Holding» 57.47 million dirhams. “Abu Dhabi Commercial” achieved the largest increase by 1.28%, while “Waha Capital” was the lowest by 1.96%. Arab, Gulf and foreign investors tended to buy in the Abu Dhabi market with a net worth of 22.24 million dirhams, while local investors deliberately sold.
Disclosures
* Drake & Scull’s board of directors will discuss developments related to the restructuring process at its meeting to be held on October 12th. The company clarified, in a disclosure to the Dubai Market, yesterday that the Board will also discuss the review and approval of the semi-annual financial results for the fiscal year 2020. The company has officially started, since September, the process of inviting all concerned creditors to register their claims with the certified expert, explaining that these An essential step, and an important part of the broader plan to restructure the company, after the Financial Reorganization Committee finally agreed to support the company’s restructuring process. The company’s share has been suspended in the Dubai market since mid-November 2018, due to the successive crises, after the disclosure of heavy losses, suspicions of fraud and corruption.
* DXB Enterprises will hold its general assembly meeting on October 25th to elect a new board of directors for the company, as the term of the current board is about to expire, subject to the approval of the Securities and Commodities Authority, while the board approved the resignation of the members Malik Al Malik And Sudanese Mukesh.
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