Emirates NBD and Abu Dhabi Islamic Bank saw their shares rise after announcing their financial results, while other companies in the real estate, industry, and utilities sectors faced pressure due to selective buying of shares at lower prices. The Dubai market index increased by 0.06% to 4169.87 points, while the Abu Dhabi market index decreased by 0.04% to 9041.51 points. Emirates NBD shares rose by 1.84% to 16.55 dirhams, with trading volume at 71.3 million dirhams. Abu Dhabi Islamic Bank shares increased by 2.73% to 11.3 dirhams, with trading volume of 47 million dirhams. “Manazel” in the Abu Dhabi market surged to 0.351 dirhams, with a trading volume of 22 million dirhams.
Most real estate stocks, including “Emaar Properties” and “Aldar Properties,” faced pressure from sales to non-Arab foreigners. The declines were driven by a net investment of 82.45 million dirhams in sales proceeds, with 56.25 million dirhams in Dubai and 26.2 million dirhams in Abu Dhabi. The total liquidity recorded was 1.58 billion dirhams, with 992.28 million dirhams in Abu Dhabi and 592 million dirhams in Dubai. The traded shares amounted to 616.3 million shares, with 223.6 million shares in Dubai and 392.7 million dirhams in Abu Dhabi.
The Abu Dhabi Market Index witnessed a 0.04% decline at 9,041.51 points, with stocks in the financial, real estate, industry, energy, and utilities sectors showing decreases. In the finance sector, “First Abu Dhabi,” “Multiplay,” and “Bank of Sharjah” fell, while “International Holding” rose slightly. In the energy sector, “ADNOC Distribution” and “Dana Gas” saw increases, while “ADNOC Drilling” and “ADNOC Gas” declined. On the industrial level, some stocks decreased, but others, such as “Emirates Steel – Arkan” and “Marine Dredging,” increased. In the utilities sector, “Energy” decreased, and in telecommunications, the shares of “Etisalat E” remained stable. In real estate, there were mixed performance results, with some shares rising and others falling.
Similarly, the Dubai Financial Market index rose slightly supported by Emirates NBD’s performance but faced pressure on real estate, industrial, and utility stocks. In the financial sector, some stocks declined, while others showed increases. Real estate stocks also saw mixed results, with some falling and others rising. The industrial and utilities sectors had a mix of decreasing and increasing stock prices. Trades by nationality showed different trends in buying and selling, depending on the market segment.
Overall, the stock market performance in Dubai and Abu Dhabi reflected a combination of positive and negative changes in different sectors, impacting the overall market indexes.