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Markets open the week with mixed performance, Monday, October 26, 2020 01:09 am
- Abu Dhabi – Rami Samih
History: October 26, 2020
The closing of local stocks varied at the end of yesterday’s session, as the capital market rose, driven by institutional purchases, while the Dubai market fell, under pressure from real estate stocks, amid liquidity of nearly 800 million dirhams, 4 shares of Abu Dhabi acquired 73% of it.
The Dubai market fell 0.37% to 2,177.46 points, with real estate, banking, transport and communications shares falling, while the Abu Dhabi market rose 0.25% at 4,568 points, supported by gains in banking, real estate, insurance, energy, industry and services stocks.
The shares attracted about 778.75 million dirhams, of which 693.5 million were in Abu Dhabi and 85.25 million in Dubai, and 246.4 million shares were traded, distributed by 155 million in Abu Dhabi, and 91.4 million in Dubai, through 3569 transactions.
And pressure on the Dubai market, the real estate sector fell 1.31%, with a decline in «Emaar Properties» 0.76%, «Damac» 2.67%, «Emaar Development» 0.44%, and «Emaar Malls» 3.37%, while «Union Properties» rose 1.07% %.
The banking sector decreased 0.1%, with Dubai Islamic declining 0.24%, while Emirates NBD stabilized. The transport sector declined 0.28%, with Aramex dropping 0.48%, while Air Arabia and Gulf Navigation stabilized. The investment sector rose 0.6%, with the Dubai Financial Market climbing 2.43%, Shuaa Capital 032%, while Dubai Investments stabilized.
«Emaar Properties» dominated the activity by about 17 million dirhams, followed by «Emirates NBD» 12.4 million dirhams, then «Dubai Financial Market» 11.3 million dirhams.
The rise of the capital market supported the rise of the banking sector by 0.74%, with the growth of “First Abu Dhabi” by 0.54%, “Abu Dhabi Commercial” 3.2%, while “Abu Dhabi Islamic” stabilized, and the real estate sector increased by 1.71%, following the rise of “Al Dar” 1.84% While “Ras Al Khaimah Real Estate” fell 0.52%, and the energy sector increased by 0.56%, with “Dana Gas” increasing 0.71%, “TAQA” 0.7%, and “ADNOC Distribution” 0.3%.
The investment sector decreased by 0.3%, driven by a drop of “Waha Capital” by 3.88%, and “Ishraq” 1.99%, while “International Holding” increased 0.26%.
Disclosures
* The Board of Directors of Al-Alamiah Holding will meet on October 28 to consider approving the data for the third quarter.
* The Board of Directors of the National Bank of Fujairah, on October 28, is considering approving the interim financial statements for the first nine months.
* The Board of Directors of Abu Dhabi Commercial Bank will discuss on October 28 the bank’s financial results for the period ending on September 30th.
* Finance House maintained its investment grade credit rating at ‘A3’ for short-term and at ‘-BBB’ long-term, both of which confirm a stable outlook, according to the agency, Capital Intelligence.
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