With the support of Damac shares .. “Dubai” leads the Gulf...

With the support of Damac shares .. “Dubai” leads the Gulf...
With the support of Damac shares .. “Dubai” leads the Gulf...
Most of the Gulf stock exchanges rose at the beginning of trading on Wednesday, with financial sector stocks leading the gains, while the index rose thanks to Damac Properties.

The Dubai index rose 0.7%, supported by the rise in Damac Properties, 14.4%, as investors hunted for cheap stocks.

Damac Properties’ shares jumped during the trading session on Wednesday, by 14.4 percent, recording the highest price in a year and a half.

By the middle of the trading session, the real estate stock recorded a price of 1.11 dirhams, topping the market’s high, which is the highest share price since May 8, 2019.

DAMAC’s share acquired the highest liquidity at that time by about 25.8 percent, as it achieved 30.98 million dirhams, out of the total market liquidity of 120.21 million dirhams, in the meantime.

23.5% of the market’s trading was directed towards Damac’s shares, with a volume of 28.73 million shares, out of total market trading, which recorded at that moment the volume of 121.94 million shares.

DAMAC recorded total revenues for the year 2019 of 4.4 billion dirhams, and the shareholders ’equity was stable at 14.1 billion dirhams, while the total asset value reached 23.8 billion dirhams.

The value of booked sales reached 3.1 billion dirhams, and about 4,700 units were delivered during 2019.

And the real estate sector rebounded by 1.36%, leading the general index of the Dubai Financial Market to rise by 0.14%, to the level of 2184.03 points, a gain of 3.22 points.

The Saudi main index gained 0.3%, Al-Rajhi Bank rose 0.6% and the Saudi Basic Industries Corporation (SABIC) 0.7%.

The Abu Dhabi index rose 0.2%, thanks to the rise in the shares of the country’s largest banks, First Abu Dhabi Bank, by 0.4% and Abu Dhabi Commercial Bank by 1.1%.

In Qatar, the index fell 0.1% due to Qatar Insurance losing 2%.

These were the details of the news With the support of Damac shares .. “Dubai” leads the Gulf... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Russia jails US journalist Gershkovich for 16 years
NEXT US military raises alert level for Europe bases: reports