Foreign purchase seizes opportunities for the decline in UAE shares

Foreign purchase seizes opportunities for the decline in UAE shares
Foreign purchase seizes opportunities for the decline in UAE shares
: Anwar Daoud

Calm dominated the local stock markets at the end of the mid-week session, to close the Abu Dhabi Securities Market index with a marginal decline of 0.04%, and the Dubai Financial Market index decreased by 0.27%, with the continued concentration of pressures from the leading shares in the banking sector.

Foreign investors seized the opportunity of the decline in general indicators, to enhance their investment portfolios by 88 million dirhams, amid sales from Gulf investors and citizens, with the control of the discrepancy over the orientations of institutions.

The daily liquidity amounted to about 1.81 billion dirhams, with 288.4 million shares being traded, distributed between 1.64 billion dirhams, with 200 million shares being traded, and the Dubai market witnessed 165 million dirhams, with 88.4 million shares being traded.

The Abu Dhabi Securities Exchange index settled with a marginal decline of 0.04%, equivalent to 3 points, to close at 7761.8 points, amid the varying performance of the sectoral indicators.

The market witnessed the bell of the inclusion of Response Plus Holding Company on the second market platform in the Abu Dhabi Securities Exchange, and the stock opened at 17 dirhams, and reached the level of 20 dirhams, to close at 12.5 dirhams, amid trading of 56.3 million dirhams. And «Reem Investments» among the private joint stock companies increased by 11.2%.

Banks declined 0.03%, under pressure from the decline of “First Abu Dhabi” 0.11% to 18 dirhams, with a circulation of 401 million dirhams, while “Abu Dhabi Islamic” rose 0.53%, and “Sharjah Islamic” 0.58%.

The property decreased 0.25%, with “Al Dar” falling 0.24% to 4.17 dirhams, with a circulation of 340 million dirhams, and “Sharjah Group” jumped 10.5% to 3.79 dirhams.

Communications declined by 0.03%, amid a decline of “Yahsat” by 1.18% to 2.51 dirhams, with a trade of 16.3 million dirhams, while “Etisalat Group” settled at 24.4 dirhams, with a trade of 56.3 million dirhams.

Investment and financial services rose 0.05%, amid a marginal rise of the “International Holding” share by 0.07% to 146.4 dirhams, with a trade of 384 million dirhams, and “Alpha Abu Dhabi” 0.07% to 27.04 dirhams, with a trade of 105 million dirhams.

Energy rose 0.05%, with “ADNOC Distribution” rising 0.23% to 4.38 dirhams, while “TAQA” fell 0.78% to 1.28 dirhams.

Dubai market

The Dubai Financial Market index decreased by 0.27%, equivalent to 7.9 points, to close at 2,880.9 points, affected by the decline in the “real estate” and “banks” sectors.

The real estate sector decreased 0.19%, affected by the decline of “Union Properties” by 2% to 0.293 dirhams, “Emaar Malls” 0.48% to 2.06 dirhams, “Deyaar” 0.31%, and “Emaar Development” 0.25%, while “Emaar Properties” settled » Unchanged, at 4.14 dirhams.

The banking sector declined 0.67%, with “Dubai Islamic” down 1.19% to 4.97 dirhams, “Emirates NBD” 0.35% to 14.05 dirhams, and “GFH” 0.95% to 0.728 dirhams. In contrast, the share of “Amlak Finance” rose 1.1% and “Ajman Bank” 1.13%.

Transport rose 0.62%, with a collective rise of the sector’s shares, led by “Air Arabia” by 0.74%, “Gulf Navigation” 0.69%, and “Aramex” 0.52%.

The investment and financial services sector rose 0.16%, interacting with the return of the “Dubai Financial Market” share to rise, as it rose by 0.9% to 1.11 dirhams, while “Shuaa” declined 0.85% to 0.699 dirhams, amid the stability of “Dubai Investments”.

The services sector rose 1%, supported by the rise of “Tabreed” by 1.78% to 2.85 dirhams. In insurance, “Aman” rose 1.92% to 1.06 dirhams, while “Takaful House” fell 1.85%, and “Salama” 0.74%.

institutional purchase

Non-Arab foreign investors tended to buy in the two markets, after they recorded a net investment as a purchase proceeds of 88 million dirhams, distributed between 58.7 million dirhams in the Abu Dhabi market, and 29.2 million dirhams in the Dubai market.

Citizen investors tended to sell, with a total of 62.22 million dirhams, of which 43.8 million dirhams in Abu Dhabi, and 18.4 million dirhams in the Dubai Financial Market. Gulf residents tended to sell with a sum of 16.8 million dirhams, including 2.4 million dirhams in the Abu Dhabi market, and 14.4 million dirhams in the Dubai market.

The trends of the Arabs in the two markets varied, as they recorded a sale proceeds in Abu Dhabi of 12.4 million dirhams, while they recorded a purchase outcome in Dubai of 3.6 million dirhams.

Institutions

The trends of institutions in the two markets varied, with a purchase proceeds in the Abu Dhabi market at 38 million dirhams, and a sale in Dubai with 12 million dirhams. The purchases of institutions in the two markets amounted to about 1.6 billion dirhams, while their sales amounted to about 1.58 billion dirhams.

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