The UAE market indices held onto technical support levels on Thursday, with calm movement from leading stocks. Foreign investors, particularly non-Arabs, injected a net investment of approximately 133 million dirhams into the market, anticipating the final session of the first half of 2024.
The Abu Dhabi Securities Exchange index rose by 0.4% to 9,004 points, while the Dubai Securities Exchange index increased by 0.07% to 4,008 points. The rise in the Dubai market was driven by shares of “Emaar Properties,” which increased by 1.63%. Other stocks like “Dubai Islamic” and “Emirates NBD” remained stable, while “DEWA” saw a decline of 0.89%.
In the capital market, support came from shares of “First Abu Dhabi,” which rose by 1.65%, “International Holding” by 0.15%, and “Aldar” by 1.67%. Non-Arab foreign investors made purchases amounting to AED 112.37 million in Abu Dhabi and AED 20.55 million in Dubai.
The market liquidity was recorded at approximately 1.36 billion dirhams, with approximately one billion dirhams in the Abu Dhabi market and around three hundred sixty million dirhams in the Dubai market. The traded quantities of shares amounted to approximately four hundred eighty million shares, with approximately two hundred seventy-eight million shares in Abu Dhabi and around two hundred ten million shares in Dubai.
The rise in the Abu Dhabi market was attributed to sectors such as financial services, real estate, communications, energy industry utilities sector.
In Dubai, the financial market index was supported by real estate and financial stocks with some declines in industry and utilities sectors.
Foreign investors showed interest in both markets, making net investments through purchases while Arab Gulf citizens leaned towards liquidation.
Overall, while various sectors showed mixed movements in share prices across both markets