Dubai: Anwar Daoud
The shares of the Dubai Electricity and Water Authority (DEWA) witnessed a record number of deals during the Friday session, regarding more than 26,000 deals, constituting 92% of the total number of deals executed by investors on companies in the Dubai Financial Market.
The large number of deals made on DEWA shares since the first day of listing reflects an active movement in the trading of investors, especially individuals who trade in small quantities.
Since the stock was listed on April 12, investors have executed 41.65 thousand trading transactions on DEWA shares in only 4 sessions, with a value of 2.15 billion dirhams, including 745.7 million shares.
DEWA accounted for 68.6% of the total number of deals in the market during the period between April 12 and 15, and it also acquired 53.7% of the traded volumes, and 62% of the traded value.
The Dubai Financial Market witnessed 60.7 thousand transactions from April 12 to 15, which included 1.39 billion shares, with a total value of 3.5 billion dirhams.
«Diwa» shares recorded during the Friday session, the first increase following a decline in two consecutive sessions, following it rose by 4.35% to reach 2.88 dirhams, with transactions amounting to 230 million dirhams, through 80.9 million shares. The stock rose from the first day of listing on the Dubai Financial Market until the end of the April 15 session, by 16.13%. The stock, during the first trading session, breached the three dirhams barrier, before trimming its gains once more.
