Junaid Ansari, Head of Investment Research and Strategies Department at Kamco Invest, expected that the decision to adjust trading days would attract more foreign investors, increase liquidity and trading volumes, in addition to encouraging international companies to list in local markets, as well as increasing global competitiveness.
He stressed that adjusting the trading times in the UAE financial markets will bring them closer to the global financial markets and increase their competitiveness.
Ansari expected that the decision will affect trading volumes and attract more foreign investors and foreign institutions to the UAE financial markets, after adjusting the trading days.
Today, local shares have attracted a liquidity of 1.32 billion dirhams, concentrated in the Abu Dhabi market.
In the Abu Dhabi market, foreigners seized an opportunity to buy at a net of 47.05 million dirhams, while foreigners tended to sell at a net of 15.03 million dirhams.
Abu Dhabi market
The Abu Dhabi index fell by 0.44% at the level of 8,394 points.
The value of trading in the Abu Dhabi market reached 1.17 billion dirhams, while the trading volume amounted to 172.9 million shares.
The performance of the index coincided with the decline of 5 major stocks, where the First Abu Dhabi share fell by 0.73% at the level of 19 dirhams, and Aldar Properties fell by 0.75% at the level of 3.96 dirhams, and the Etisalat Group fell by 0.25%.
Also, the Multiplay Group fell by 2.69%, and ADNOC Distribution fell by 0.94%.
While Alfa Abu Dhabi rose by 0.32%, and International Holding settled at the level of 152.2 dirhams.
Global Holding shares topped the shares in terms of trading value, executing about 301.69 million dirhams, followed by First Abu Dhabi with a value of 262.92 million dirhams, while Aldar Properties topped the shares in terms of trading volumes, executing about 51.94 million shares.
At the end of Sunday’s session, the market value of the Abu Dhabi market recorded about 1.5967 trillion dirhams, compared to 1.6007 trillion dirhams in the previous session.
During today’s session, 25 shares declined, 15 rose, and 9 stabilized.
The Dubai Financial Market index rose at the end of Sunday’s session by 0.45% at the level of 3158 points, supported by the rises of major stocks, especially from real estate and investment.
The real estate index rose 0.52%, investment rose 0.48%, and the banking index rose 0.39%.
The Dubai Financial Market share rose by 1.25% at a price of 2.43 dirhams per share, while the share of Amlak rose by 14.91%.
The rise was dominated by real estate shares, as Union Properties rose 4.79%, and Deyaar Development rose 7.45%, while Emaar Properties settled at the level of 4.76 dirhams.
And Dubai Islamic shares rose by 0.37%, while GFH fell by 0.84%.
Emaar Properties topped the shares in terms of trading value, executing transactions worth 42.28 million dirhams, followed by Deyaar Development by 25.3 million dirhams, while Union Properties topped the shares in terms of trading volumes with 59.6 million shares.
The value of trading on the Dubai Financial Market during today’s trading amounted to 182.21 million dirhams, with a trading volume of 189.73 million shares, through 3.4 thousand transactions.
During today’s trading, 15 shares rose, 9 fell, and 5 remained stable.
Amlak Shares topped the list with an increase of 14.91%, while the National Insurance Company topped the shares that fell by 9.6%.
The market value of the Dubai Financial Market recorded 406.920 billion dirhams, compared to a value of 405.991 billion dirhams in the last session, to gain 929 million dirhams.
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