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The local stock markets consolidated their gains during the current week’s trading, and their market capitalization amounted to more than 29 billion dirhams, supported by the successive announcements of listed companies and banks for strong profits and generous distributions for the past year 2022..
The market capital of listed shares rose from 3.096 trillion dirhams at the end of last week to 3.125 trillion dirhams at the end of today’s session, distributed by 2.537 trillion dirhams for shares listed on the Abu Dhabi Stock Exchange and 588.2 billion dirhams for shares listed on the Dubai Financial Market..
The Abu Dhabi Securities Market indices achieved strong gains during the week, with the Abu Dhabi Market Index, “Fadx 15”, increasing by 1.96 percent, to close at 9850.57 points, while the FTSE Abu Dhabi General Market Index, “Fadji”, increased by 1.98 percent, to reach the level of 9931.09 points, to rise. The two indicators are at the largest weekly pace since the beginning of last November.
The Dubai Financial Market general index increased by 1.61 percent, or the equivalent of 53.7 points, to close at 3382.9 points, which is the highest level for the index in 11 weeks since last November 14, with the main support of the rise of the financial sector index by about 3.1 percent and the industrial sector by 2.26 percent..
The shares attracted liquidity during the week of about 9.4 billion dirhams, distributed by 8 billion dirhams in the Abu Dhabi Stock Exchange and 1.4 billion dirhams in the Dubai Financial Market, after trading 1.6 billion shares..
The Abu Dhabi market was supported by the rise in shares of “A&” by 8.6 percent, “First Abu Dhabi” by 3.68 percent, “Borouge” by 3.08 percent, “ADNOC Drilling” by 2.73 percent, “TAQA” by 2.56 percent, and “Aldar” by 2.3 percent. And “Agthia” 2.2 percent, and “Abu Dhabi Ports” 0.5 percent.
The share of “Abu Dhabi Commercial” increased by 5.6 percent, with the bank announcing an increase in annual net profits by 23 percent to 6.434 billion dirhams, with a recommendation to distribute dividends to shareholders at a value of 55 fils per share for the past year 2022..
The share of “Abu Dhabi Islamic” rose 6.5 percent, with the bank announcing that it had achieved net profits of about 3.6 billion dirhams, with a recommendation to distribute 49 fils per share, while “Agthia” increased by 2.2 percent after the company announced that its net profit increased by 14 percent to 247 million dirhams in 2022.
“Al-Alamiya Holding” topped the activity during the week, attracting liquidity of about 2.4 billion dirhams, followed by “First Abu Dhabi”, attracting about 820.6 million dirhams, then “Al-Fadha Holding”, with a liquidity that exceeded 759 million dirhams..
The performance of the Dubai market was enhanced by the rise in the shares of “Emirates NBD” by 4.2 percent, “Emaar Development” by 3.8 percent, “Air Arabia” by 3.6 percent, “Aramex” by 1.68 percent, “Dubai Investments” by 3.16 percent and “Empower”. by 5.4 percent, Tabreed 1.44 percent, and Du 1.15 percent..
And “Emaar Properties” acquired the lion’s share of the total weekly trading values by about 423.1 million dirhams, followed by “Emirates NBD”, which attracted about 278.8 million dirhams, then “Dubai Islamic” with a liquidity that exceeded 144.8 million dirhams..