Dubai, UAE – The Dubai Financial Market closed the week’s trading up by 0.28%, or 16.85 points, at 6,114.32 points.
Thus, it continued its gains for the fourth week in a row.
The stocks listed on the Dubai Financial Market attracted liquidity exceeding AED 3.27 billion.
This came after trading approximately 1.07 billion shares and executing 61,636 transactions.
During the week’s trading, foreign (non-Arab) investors in the market tended to buy with a net investment of about 137.35 million dirhams.
After recording purchases worth more than 1.667 billion dirhams, compared to sales worth 1.53 billion dirhams.
Dubai Financial’s market capitalization stabilized above one trillion dirhams at the end of the week’s trading, with gains amounting to about 460.73 million dirhams.
In a week, Alec Holding shares jumped 5.61%.
While “Salk” shares rose by about 4.69, “GFH” by about 4.09%, “Dubai National Insurance and Reinsurance” by 4.04%, “Takaful Emirates” by 3.66%, and “Diwa” by 3.58%.
For his part, Wael Mahdi, Trading Manager at Daman Securities, said, “The Dubai Financial Market has witnessed clear increases since the beginning of December, as the index succeeded in exceeding important technical levels at 5,900 points, then 6,000 points, before exceeding the 6,100-point barrier, which are levels that currently represent major areas of resistance.”
Mahdi explained that the current momentum is supported by strong financial results for companies, especially in the real estate, banking and services sectors.
In addition to the positive quarterly distributions announced by government-listed companies during the past period, which contributed to enhancing liquidity flows to the markets.
Mahdi expected that seizing opportunities and building financial positions at current levels would contribute to supporting market performance during annual closures, supported by expectations of lowering interest rates.
This enhances borrowing opportunities for companies, provides additional liquidity to implement projects and increases profits.
