Local shares consolidated their gains in last week’s trading and closed in the green zone, as the Dubai market index continued to rise for 6 consecutive sessions, reaching 2,820 points, and the Abu Dhabi market rose again, to close at 7,419 points, supported by the rise of the leading sectors in light of the positive results. For companies and banks listed for the first half.
The shares attracted liquidity of about 7.4 billion dirhams last week, including 6.562 billion in Abu Dhabi and about 882 million in Dubai, and 2.2 billion shares were traded, distributed at 1.7 billion in Abu Dhabi, and 466 million in Dubai, through the implementation of about 42,000 deals.
Positive results
Raed Diab, Vice President of Investment Research and Strategies at KAMCO Invest, confirmed that the UAE markets were once again able to close the week’s trading high in light of the financial results of the listed companies and banks for the first half of 2021, which came better than expectations compared to the same period of the year. the past.
He explained that the re-opening of commercial activities, easing travel restrictions and accelerating the pace of vaccination contributed to increasing the positive sentiment for investors, in addition to strong government support to advance the economy, support all market sectors, and strong management to control the effects of the spread of the Corona virus, which attracts investors in the long run. the long.
He added that the latest report issued by the World Bank expected that the UAE would return to the growth path this year at 1.2%, and that the rate would accelerate in 2022 and 2023 to 2.5%.
Dubai market
The Dubai market rose 2% to close at 2,820 points at the end of trading last week, supported by a 2.45% increase in the real estate sector, with Emaar Properties rising 2.5%, Emaar Development 1.07%, Emaar Malls 4.7% and Deyaar 3.5% Meanwhile, “Union Properties” fell 0.4%, “DAMAC” stabilized without any change, and the banking sector rose 2.15%, with the rise of “Dubai Islamic” 5% and the stability of “Emirates NBD” without any change.
The investment sector also rose 1.7%, supported by a 3% rise in “Dubai Investments”, while “Shuaa Capital” decreased by 1.3% and the “Dubai Financial Market” decreased by 1.8%. The transportation sector rose 1.7%, with “Aramex” up 2% and “Air Arabia” 1.5%, while “Gulf Navigation” fell 1%, and the services sector rose 2.4%.
“Dubai Islamic” topped the activity, attracting 272 million dirhams, followed by “Emaar Properties” 206 million dirhams, then “Dubai Investments” 47.5 million dirhams, and the “Agility Public Warehousing” share achieved the largest increase by 21.7%, followed by “Dubai National Insurance” 10 %, then “Dubai Islamic Bank” 5%, while “Takaful Al Emarat” was the lowest, with 11.6%.
Abu Dhabi market
While the Abu Dhabi market rose 1.4% to close at 7,419 points, supported by the rise of the banking sector by 0.6%, supported by the rise of “First Abu Dhabi” 0.36%, “Abu Dhabi Commercial” 3.13% and “Abu Dhabi Islamic” 0.36%, and real estate rose 4.6%, with the rise of “Al Dar” 5.04%. .
While “Ras Al Khaimah Real Estate” fell 1.7%, the telecommunications sector rose 5%, with the “Etisalat” share rising by the same value, while the “Yahsat” share fell 3.2%, and the industrial and service sectors rose 5.68%, 0.85%.
The investment sector declined 0.51%, with “International Holding” down 0.45%, “Alpha Abu Dhabi” 1.4%, and “Eshraq” 7.7%, while “Waha Capital” rose 13.6%. The energy sector also fell 0.06%, with “TAQA” down 3.8%, while “ADNOC Distribution” rose 0.46% and “Dana Gas” 0.34.3%.
“International Holdings” topped the list, attracting 1.47 billion dirhams, followed by “Aldar Properties”, attracting 1.39 billion dirhams, and then “First Abu Dhabi” 1.31 billion dirhams.
“Ras Al Khaimah Ceramics” achieved the largest increase by 24%, followed by “National Takaful” by 15%, then “Waha Capital” by 14%, while “Al Qudra Holding” was the lowest by 22.7%, followed by “Abu Dhabi Ship Building” by 21.5% .
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