The UAE stock market experienced mixed performance at the end of the week, with declines in various sectors and fluctuations in banking stocks. In Dubai, real estate, industry, utilities, and finance stocks contributed to the market’s decline, while technology shares saw a rebound.
In Abu Dhabi, financial and real estate stocks influenced the market’s decline. Foreign investors shifted towards liquidation in exchange for local purchases, resulting in significant proceeds from sales in both markets. Despite strong results announced by banks during the first quarter, their performance fluctuated within the five trading sessions.
Foreign investors also moved towards liquidation during the week, with significant proceeds from sales in both Abu Dhabi and Dubai markets. The total weekly liquidity in the UAE stock market was substantial, with a significant amount of shares traded in both Abu Dhabi and Dubai markets.
The Dubai market index fell by 0.6%, while the Abu Dhabi market index experienced a decline of 0.9%. National and Arab investors tended to buy more in both Abu Dhabi and Dubai markets, while foreign investors leaned towards liquidation. Investment portfolios showed varying levels of activity, with some sectors seeing increased buying activity while others experienced more sales.
Overall, the mixed performance of the UAE stock market was influenced by declines in various sectors and fluctuations in banking stocks. Foreign investors shifted towards liquidation during the week, resulting in significant proceeds from sales in both markets.
