WAM – The UAE stock markets gained more than 55.8 billion dirhams at the end of trading in the first week of August, and its market capitalization gained more than 55.8 billion dirhams, as it interacted positively with the announcements of listed companies regarding strong profits in the first half of this year.
The market capital of the listed shares rose from 2.575 trillion dirhams at the end of last Friday’s session to 2.63 trillion dirhams at the end of today’s session, distributed by 2.073 trillion dirhams for shares listed on the Abu Dhabi Stock Exchange and 557.54 billion dirhams for shares listed on the Dubai Financial Market.
Local shares attracted liquidity of more than 7.95 billion dirhams during the week, distributed by 6.78 billion dirhams in the Abu Dhabi market and 1.17 billion dirhams in the Dubai market. About 1.758 million shares were traded through the implementation of more than 73.4 thousand transactions.
Abu Dhabi market.
The FTSE Abu Dhabi General Market index rose during the week by 2.9%, or 280.2 points, to close at 9929.16 points, reaching its highest level since the end of last May, more than two months, supported mainly by the growth of the indices of the financial, communications, basic materials, energy and services sectors.
The rise in the Abu Dhabi market during the week supported the growth of shares such as “International Holding” by 9.2% to close at 323 dirhams, with it topping the list of the most active by values, attracting more than 1.7 billion dirhams of liquidity. “2.79%,” “TAQA” 2.4%, “ADNOC Distribution” 0.93%, and “First Abu Dhabi” 0.82%.
The share of “A&E – Telecom previously” increased by 1.51%, with the company announcing this week that it achieved a net profit of regarding 4.9 billion dirhams during the first half of this year, a growth of 2.5%.
Ras Al Khaimah Ceramics increased by 4.9% with the company announcing an increase in net profits to 171.9 million dirhams for the first half of this year, while the share of “Abu Dhabi Aviation” grew 2.52% following the company announced an increase in its net profits on an annual basis by 25.7% during the first half of this year. This year, it reached 155.93 million dirhams.
Dubai market.
In the Dubai market, TECOM’s share rose by 2.99%, following the company announced this week that net profits rose by 43.4% on an annual basis to 428 million dirhams during the first half of this year.
Also during the week, the shares of the Dubai Electricity and Water Authority “DEWA” rose by 0.39%, “Air Arabia” 4.09%, “Dubai Investments” 0.43%, “Shuaa Capital” 0.2%, “Gulf Navigation” 4.37%, and “Amlak” for financing” by 14.6%.
