UAE stock markets rise for second consecutive session with Dh14 billion in market cap gains

Dubai: The UAE stock markets continued their upward trend for the second consecutive session, with the Dubai Financial Market index rising by 0.704% and the Abu Dhabi Securities Exchange index climbing by 0.503%. This resulted in market capitalisation gains exceeding Dh14 billion in Friday’s session, the last trading day of the week, driven by the strong performance of leading stocks. The market capitalisation of listed shares on both exchanges increased from approximately Dh3.572 trillion at the close of trading on Thursday to approximately Dh3.586 trillion on Friday, distributed as follows: Dh2.607 trillion for shares listed on the Abu Dhabi Securities Exchange and Dh979.28 billion for shares listed on the Dubai Financial Market. Local stocks attracted liquidity exceeding Dh1.46 billion, distributed as Dh497.2 million in the Dubai market and Dh972.61 million in the Abu Dhabi market, after trading on 902.39 million shares, through the execution of 36,345 transactions. The Dubai market closed yesterday's trading session up by 0.704%, equivalent to 41.12 points, at a level of 5884.63 points, supported by the almost collective rise of the listed sectors, led by real estate, industry and banks, as the market capitalisation rose to about Dh979.28 billion at the end of yesterday's session, compared to about Dh974.78 billion at the end of trading the day before yesterday, achieving gains of Dh4.5 billion. The market's performance was supported by the almost collective rise in sector stocks, led by the real estate sector with a 2.17% increase, followed by the industrial sector with a 0.88% increase, then banks with a 0.17% increase, telecommunications with a 1.26% increase, in addition to the basic consumer goods sector with a 1.92% increase. During yesterday's trading, foreign (non-Arab) investors were net buyers, with a net investment of approximately Dh39.44 million, after executing purchases worth Dh153.85 million against sales of Dh114.41 million. Listed stocks attracted liquidity exceeding Dh497.2 million. Shares of six companies listed on the Dubai Financial Market – Emaar Properties, Shuaa Capital, Islamic Arab Insurance, Union Properties, Emaar Development, and Drake & Scull International – accounted for more than 67.33% of the total market liquidity during yesterday’s trading. According to market data, the total value of trading in these stocks amounted to approximately Dh334.75 million, out of a total market liquidity of Dh497.2 million. Emaar Properties' stock led market activity in terms of liquidity, with a value of Dh140.13 million, rising 2.2% to Dh11. Shuaa Capital's stock came in second, with trades reaching Dh53.78 million, increasing 14.89% to Dh0.27. For its part, the Abu Dhabi Securities Exchange ended yesterday's trading session with a rise of 0.503%, equivalent to 49.97 points, to close at 9977.36 points. The market capitalisation of listed stocks rose to about Dh2.607 trillion at the end of yesterday’s session, compared to about Dh2.597 trillion at the end of trading the day before yesterday, with gains of about Dh9.7 billion. The shares listed on the market attracted liquidity exceeding Dh972.61 million, after trading on 371.07 million shares, through the execution of 22,805 transactions.