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Dubai reaches the largest monthly increase in two years


Stock markets gained 37.5 billion dirhams in the trade in April last year, increasing investors' appetite improved with upbeat quarterly results of companies and annual dividends, as well as for the purchase of the operations of foreign institutions, to seize market opportunities in light of the strength and durability of the national economy.

Dubai market grew by 5.02%, or the equivalent of 132.24 points, its biggest monthly growth rate since July 2017 to close at 2767.1 points, with key support from banks in the amount of 11.6% contributed to gains, as well as investment growth 1.7% and in the transport sector 3.3%.

And Abu Dhabi event received around 24.7 billion dirhams to reach a market capitalization of 532.8 billion dirhams, while Dubai stocks gained 12.79 billion dirhams, and reached a market value of 362.59 billion dirhams.

And increase the Abu Dhabi market by 3.6%, or 183.4 points, its biggest monthly gain since July 2018, to reach 5258.04 points to the growth of bank shares 5.5% and energy 5.16% Real estate 1.23 % and the stability of the bond and the reduction of investment and insurance 11.7% and 5.26% respectively.

Brokers were told to "economic statement" Rod reached the performance exceeded expectations in the trade last month, supported by incentives set in the forefront of the beginning of the & # 39; Ads for strong quarterly corporate results, as well as for a marathon annual distributions that leads to positive news on the banking sector Bandemajat, as well as increasing the share of foreign ownership in certain companies.

And it is the liquidity markets with 11 billion dirhams divided into 5.8 billion in Dubai and 5.12 billion in Abu Dhabi, and traded 5.7 billion shares of which 4.2 billion in Dubai and 1.48 billion in Abu Dhabi . And most of the blue chips have strong growth in April, rising in Dubai «Emirates NBD» 18,9% and "beam" 17.9% and "Dubai" 6.8% and «Dubai Islamic» 6,6% «Emaar development" 0,5% «Emaar properties" 0.4%.

While in Abu Dhabi rose «ADNOC Distribution» 17,12% and "Union National Bank" 11.2% and "Abu Dhabi Islamic Bank" by 9.4% and «Abu Dhabi Commercial» 5.9% and "Abu Dhabi First» by 5.3% and «Dana Gas» 1,49%.

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