The closing of local stocks varied at the end of the session yesterday, with liquidity remaining at previous levels above 500 million dirhams, and the Abu Dhabi market rose, supported by bank gains, which in turn pressured the Dubai market along with real estate and investment stocks.
The Dubai market fell 1.18% to 2139.67 points under pressure from banking, real estate, investment, transport and communications stocks, while the Abu Dhabi market rose 0.25% to 4,642.42 points, with the support of banking, investment, insurance, energy, industry and commodity stocks.
The shares attracted a total of 532.5 million dirhams of liquidity, including 347.85 million in Abu Dhabi and 184.7 million in Dubai. And 316.9 million shares were traded, distributed by 92.23 million in Abu Dhabi and 224.67 million in Dubai through 5781 transactions. The leading shares in the real estate and banking sectors acquired the largest share of liquidity, led by Dubai Islamic Dubai and Emaar Properties, in Abu Dhabi, Aldar and First Abu Dhabi.
Dubai market
And pressure on the Dubai market, the banking sector fell 1.47%, with the decline of «Dubai Islamic» 1.95% and «Emirates NBD» 1.37%, and the real estate sector fell by 1.23% by the pressure of «Emaar Properties» 0.76%, «Emaar Development» 0.44% and «Emaar Malls» 1.4%, “Union Properties” 4.64%, “Deyaar” 0.37%, and “DAMAC” 2.7%.
The investment sector retreated 0.16%, with “Dubai Financial Market” dropping 0.49% and “Shuaa Capital” 1%, while “Dubai Investments” stabilized, and the transport sector retreated by 1.21%, with “Aramex” falling 1.23%, “Air Arabia” 0.92%, and “Gulf Navigation” »4.11%.
And «Dubai Islamic» dominated the activity, attracting 45.2 million dirhams, followed by «Union Properties» 34.36 million dirhams, then «Emaar Properties» 25.2 million. “Tabreed” achieved the largest increase by 6%, while “Union Real Estate” was the lowest by 4.64%. Arab and Gulf investors and citizens went towards buying, with a net investment of 69 million dirhams, while foreign investors tended towards liquidation.
Abu Dhabi Market
The rise of the Abu Dhabi market was reinforced by the rise of the banking sector 0.5% with the growth of “First Abu Dhabi” by 0.7% and “Abu Dhabi Islamic” by 2.09%, while “Abu Dhabi Commercial” decreased by 1.22%, and the investment sector increased by 1.07% with the rise of “International Holding” 0.92% and “Waha Capital.” By 2.94%, while Ishraq decreased by 0.33%.
The energy sector rose 0.1% with the growth of “TAQA” 1.43%, while “ADNOC Distribution” decreased by 0.6% and “Dana Gas” stabilized. The real estate sector declined 1.42%, with “Aldar” dropping 1.49%, and the telecommunications sector stabilized with the steady share of “Etisalat”.
And «Aldar Properties» led the activity at about 77.9 million dirhams, followed by «First Abu Dhabi» 76.3 million dirhams, then «International Holding» 66.5 million. “Gulf Cement” achieved the largest increase by 11.4%, while “Insurance House” was the lowest, by 4.94%. And Gulf and foreign investors bought, with a net investment of 13 million dirhams, while Arab investors and citizens moved towards liquidation.
No developments regarding “Bloom Egypt”
Emirates NBD said that there is no confirmation of the possibility of completing and executing any transaction related to the acquisition of the BLOM Bank in Egypt, known as “Blom Bank”.
The bank added, in a disclosure to the Dubai Financial Market yesterday, that another announcement would not be issued unless there were substantial developments.
The bank indicated that it is continuously evaluating the potential opportunities that are available in various markets.
In August, Emirates NBD announced that it was conducting initial discussions with BLOM Bank regarding the possibility of a possible acquisition of the current shareholding share in Egypt.
Disclosures
★ The Board of Directors of Mashreq Bank will hold a meeting next Monday to review and approve the financial statements for the third quarter of the fiscal year 2020.
★ Amanat Holding Company set Sunday as the date for the Board of Directors meeting to approve the financial results for the third quarter of 2020.
★ The Board of Directors of Air Arabia will meet next Tuesday to discuss the financial statements for the third quarter of 2020.
★ Shuaa Capital announced the resignation of Ahmed Abdel Hamid Al-Ahmadi from the membership of the Board of Directors, as of its date.
★ The Arab Scandinavian Insurance Company announced the unanimous approval of the members of the Board of Directors to sell a property belonging to the company after obtaining the official approval from the Securities and Commodities Authority and completing the procedures according to the rules.
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