Today's Edition
HOSSAM ABDEL NABI (ABU DHABI)
The Abu Dhabi Securities Exchange (ADX) bolstered its gains on Wednesday following positive news announced by active companies, bringing in market value gains of Dh23.12 billion.
The general market index rose by 127.58 points, or 1.33%, with total trading value increasing to Dh1.324 billion.
The jump in share prices for the International Holding Company PJSC (ADX: IHC), which rose by 3.47% on Wednesday to Dh414 after the company announced the formation of next generation holding company “2PointZero”, was the main force behind the rise of the market index. Assets of “2PointZero” are expected to exceed Dh100 billion.
Purchase transactions carried out by foreign investors and financial institutions also contributed to improving overall market performance, with the total purchase transactions on Wednesday amounting to Dh34.53 million for foreign investors and Dh26.56 million for financial institutions.
The market index rose by a significant 127.58 points on Wednesday, closing at 9715.51 points, an increase of 1.33%. The total value of trades amounted to Dh1.324 billion, with more than 314 million shares traded through 18,041 transactions.
Of the 70 companies whose shares traded on Wednesday, 27 saw increase in price, 33 saw fall, and 10 companies’ shares remained stable.
IHC topped the list of the most active stocks in terms of value, at around Dh283.6 million, followed by Alpha Dhabi Holding PJSC (ADX: ALPHADHABI) with a value of Dh109.43 million, then RAK Properties (ADX: RAKPROP) with a value of Dh92 million.
RAKPROP stock topped the most active list in terms of quantity, with about 77.38 million shares, followed by Multiply Group PJSC (ADX: MULTIPLY) stock with 26.62 million shares, then ADNOC Logistics & Services PLC (ADX: ADNOCLS) with 20.08 million shares.
ADX’s rising stocks on Wednesday included Phoenix Group PLC (ADX: PHX) at a 5.26% rise to Dh2.4, RAKPROP at a 4.31% increase to Dh1.21, and IHC by a 3.47% jump, closing at Dh414.
ADNOCLS stocks increased 2.2% to Dh4.16, ALPHADHABI increased 0.53% to Dh18.8, and MULTIPLY increased 1.56%, to close at Dh3.25.
Non-Emirati foreign investors on Wednesday had a total share purchase value of around Dh419.39 million, compared to a total sales volume of Dh384.85 million, bringing the net foreign investment to approximately Dh34.53 million.
Dubai Financial Market (DFM) closed on Wednesday with a decrease of 13.47 points or 0.32% in the general index, at the level of 4077.58 points, after the shares of 18 of the 40 listed companies rose, the shares of 15 declined, and the shares of 7 companies remained stable.
At the end of trading on Wednesday, total trading value amounted to approximately Dh377 million, with 179.74 million shares traded through 9,126 transactions.
Emaar Properties PJSC (DFM: EMAAR) topped the list of most active stocks with a turnover of Dh104.98 million, followed by Dubai Islamic Bank (DFM: DIB) with Dh40.54 million, then Emirates NBD Bank (DFM: EMIRATESNBD) with Dh36.48 million.
Union Properties PJSC (DFM: UPP) topped the trading volume list with about 32.93 million shares, followed by Shuaa Capital PSC (DFM: SHUAA) with 17.94 million shares traded, then Deyaar Development PJSC (DFM: DEYAAR) with 16.95 million shares.
Takaful Emarat PSC (DFM: TAKAFUL-EM) saw the largest stock increase at 14.92%, closing at Dh0.516, followed by SHUAA at 4.76%, reaching Dh0.22, Emirates Central Cooling Systems Corporation PJSC (DFM: EMPOWER) at 2.97% or Dh1.73, and EMIRATESNBD at 0.87% or Dh17.35.
Some active shares declined, the most notable of which were EMAAR by 2%, closing at Dh7.82, and DIB by 0.86%, or Dh5.75.
For the foreign investment in the DFM, non-Emirati foreigners’ share amounted to about Dh201.36 million, while the total value of foreign sales amounted to Dh206.94 million, bringing net foreign investment to approximately Dh5.57 million.
