Uncertainty dominated the performance of local stocks in weekly trading, awaiting a new buy signal with the approach of the quarterly results for companies, as the moves generally remained in the occasional framework, during which the purchase of a very limited number of shares receded.
The Abu Dhabi market index succeeded in closing at a weekly increase of 0.46%, supported by the gains of «Etisalat» and «First Abu Dhabi» despite the fluctuation of its performance from one session to another, while the declines of the shares of «real estate» and «Dubai Islamic» caused the Dubai index to fall by 2.3%. %.
Among the few stocks targeted for purchase was the share of “Aldar”, which rose in a week by only 0.5%, and foreign (non-Arab) ownership in the company rose to 7.34 million shares.
Agthia, in turn, witnessed a positive move, and led the market’s gains in a week by 21.85%, closing at 4.35 dirhams, noting that the liquidity it attracted amounted to 17.6 million dirhams only through trading 4.4 million shares.
Foreigners (non-Arabs) headed towards liquidation in a week, with a net investment of 158.4 million dirhams from sale, of which 59 million dirhams were sold in Abu Dhabi and about 100 million dirhams were sold in Dubai.
The shares attracted a weekly liquidity of 2.2 billion dirhams, of which 1.48 billion dirhams in the Abu Dhabi market, and 732.25 million dirhams in the Dubai market, while the traded quantities recorded 1.5 billion shares, distributed by 1.093 billion shares in Dubai and 449.89 million shares in Abu Dhabi. That is, through 23.15 thousand transactions.
Dubai market
The Dubai Financial Market index fell by 2.3% at the level of 2,214.32 points per week, affected by the descent of the sectoral indices of banking, real estate, investment, insurance, transport, goods and services stocks.
The banking sector retreated 0.95% after Dubai Islamic declined by 2.08%, while Emirates NBD settled unchanged.
The real estate sector fell 5% under the weight of “Emaar Properties” 6.03%, “Union Properties” 10.96%, “Emaar Malls” 2.7%, “Damac” 3.18%, “Emaar Development” 4.18%, and “Deyaar” 2.81%.
The investment sector retreated 3.19%, with “Dubai Investments” falling 2.61%, “Dubai Financial Market” 4.03%, and “Shuaa Capital” 7.79%. The transport sector fell 2.02%, due to the drop of «Air Arabia» 3.54%, «Aramex» 0.71% and «Gulf Navigation» 8.86%.
Abu Dhabi Market
The Abu Dhabi Securities Market index recorded a weekly increase of 0.46% to the level of 4512.5 points, with the increase in the sectoral indices of investment, real estate, telecommunications and commodities stocks.
The telecom sector rose 1.68%, with the main supporter of the market index rising by the same.
The real estate sector increased 0.55%, after “Al-Dar” rose 0.5% and “Ras Al-Khaimah Real Estate” 1.31%. The investment sector also increased by 1.31%, as a result of the rise of “International Holding” by 1.04% and “Waha Capital” by 4.62%, in contrast to the decline of “Ishraq” by 1.33%.
On the contrary, the banking sector declined by 0.06%, with Abu Dhabi Commercial declining by 0.53% and Abu Dhabi Islamic by 1.42% despite the rise in First Abu Dhabi 0.18%.
The energy sector declined 1.08%, with Dana Gas falling 0.7% and ADNOC Distribution 3.69%, while TAQA increased by 2.9%.
Liquidity orientation
In terms of weekly trading in the Abu Dhabi market, it focused mainly on the share of “First Abu Dhabi” with a value of 345 million dirhams, closed at 11.16 dirhams, followed by “Al-Alamiah Holding” with a liquidity of 295.84 million dirhams, and closed at 38.7 dirhams, then «Aldar Properties» through Attracted at 230 million dirhams, and closed at 2.02 dirhams.
In the Dubai market, «Emaar Properties» attracted the highest trades at a value of 144.5 million dirhams, closing at 2.65 dirhams, followed by «Union Properties» with a liquidity estimated at 80.47 million dirhams, to close at a price level of 0.26 dirhams, while the defensive stock «Aramex» came third. It fell 0.71% to 4.18 dirhams, after attracting 56 million dirhams of liquidity.
Highs and Lows
Agthia recorded the highest weekly increase in the Abu Dhabi market by 21.85%, to close at 4.35 dirhams, followed by «Waha Capital» with a rise of 4.62% to the level of 1.02 dirhams, and then «Emirates Insurance», up 3.69% to the level of 6.75 dirhams.
On the other hand, “Methaq Takaful Insurance” registered the most decline by 9.15% to close at 0.645 dirhams, followed by “homes”, down 8.76%, to close at 0.302 dirhams, then “Sudatel”, which fell 6.7% to the level of 0.39 dirhams.
On the level of the Dubai market, “Dubai Refreshments” recorded the most weekly increase of 1.67% at 9.15 dirhams, followed by “ARIJ”, which increased 1.38% to close at 1.47 dirhams, then “Tabreed” 0.91% and closed at 2.22 dirhams.
On the contrary, the decline was more than the share of “Union Properties”, down by 10.96% to 0.26 dirhams, followed by “Iktabaq”, which fell 8.96% and closed at 0.183 dirhams, then “Gulf Navigation” 8.86% to the level of 0.401 dirhams.
Nationalities
Regarding trades by nationalities during a week in the Abu Dhabi market, Gulf investors and citizens tended to buy with a net investment of 61.87 million dirhams as a purchase, of which about 21 million dirhams were the sum of Gulf buyers and 40.88 million dirhams from citizens’ purchases.
On the other hand, Arab and foreign investors tended towards liquidation, with a net investment of 61.87 million dirhams from sale, distributed by 2.77 million dirhams from the sale of Arabs, and 59.1 million dirhams from the sale of foreigners.
In the Dubai market, the buying destination in a week was in favor of Arab and Gulf investors and citizens, with a net investment of 99.34 million dirhams from the purchase, distributed by 11.2 million dirhams from the purchase of Arabs, 6.24 million dirhams from the purchase of Gulf citizens and 81.8 million dirhams from the purchase of citizens. On the contrary, foreign investors tended towards liquidation, with a net investment of 99.34 million dirhams resulting from the sale.
Al-Khaleej’s weekly analysis of market data showed that non-Arab foreigners ’purchase focused on“ Aldar ”shares in the first place, as their ownership increased to 7.34 million shares, and came second in terms of foreign purchases by“ Ann Digital Services ”, followed by“ First Abu Dhabi ”and“ Emaar Development ”. ».
In contrast, their sales focused on the shares of “Dana Gas”, “Waha Capital”, “Emaar Properties” and “DXB”.
Institutions
The performance of investment portfolios varied in a week and witnessed a buying trend in the Abu Dhabi market, with a net investment that did not exceed 10.4 million dirhams as a purchase proceeds, while it tended towards liquidation in the Dubai market, with a net investment of 82.4 million dirhams as a result of sale.
On the other hand, individual investors tended to buy in the Dubai market, with a net investment of 82.4 million dirhams from purchase, while they moved towards liquidation in Abu Dhabi, with a net investment of 10.4 million dirhams resulting from the sale.
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