Stocks give up gains by pressing results

After one day of the gains that included shares in banks and real estate, the local financial markets surrendered, on Tuesday, to selling pressures from these two sectors in particular, with the Dubai market index declining 1.26% and the Abu Dhabi market by 0.37%, with the start of the banking sector results.
Emirates NBD fell 3.18%, after its profits fell 55% at the end of the first nine months of this year, and Dubai Islamic fell 1.67%.
In the Abu Dhabi market, the shares of the banking sector decreased, starting with “First Abu Dhabi” 0.71%, “Abu Dhabi Commercial” 2.93%, and “Abu Dhabi Islamic” 0.94%.
On the contrary, the share of “Al Alamiah Holding” maintained its positive performance while continuing to lead trading in the Abu Dhabi market, at a value of 151.3 million dirhams, with the share increasing 0.26% to 39.2 dirhams.
The data of the Abu Dhabi Financial Market showed a buying trend for foreigners (non-Arabs) in the market, with a net investment of 292 million dirhams as purchase proceeds, compared to 22.89 million sales proceeds in the Dubai market.
The shares attracted a total liquidity of 748.7 million dirhams, of which 174.2 million dirhams in Dubai and 574.5 million dirhams in Abu Dhabi, and the traded quantities of shares were 250.8 million shares, distributed by 137 million shares in Dubai and 113.8 million shares in Abu Dhabi.
Shares of 15 companies rose, while shares of 27 companies declined, and this came through the implementation of 4,275 deals.

Dubai market

In detail, the Dubai Financial Market Index decreased by 1.26% at 2,180.81 points, with the decline in the sectoral indices of real estate, banking, transportation, investment, insurance and services stocks.
The banking sector declined by 2.02% due to the decline in the shares of “Emirates NBD” and “Dubai Islamic”.
The real estate sector decreased by 0.58%, after the decline of “Emaar Properties” by 0.37%, “Emaar Development” by 1.32%, “Emaar Malls” 1.38%, and “Union Properties” by 3.44%, against the rise of “Damac” 1.14%.
The transport sector retreated 1.12%, affected by a 1.88% decline in Aramex, at a time when Air Arabia and Gulf Navigation were unchanged.
The investment sector fell 0.12% as a result of “Dubai Financial Market” falling 0.48% and “Shuaa Capital” 0.16%, while “Dubai Investments” stabilized without change.

Abu Dhabi Market

In turn, the Abu Dhabi Securities Market index fell by 0.37% to the level of 4542.63 points, after the decline in the sectoral indices of banking, real estate, insurance, energy and commodity stocks.
The banking sector fell 0.9% under the weight of the Abu Dhabi banking trio.
The real estate sector fell 0.47%, with “Aldar” dropping by 0.46% and “Ras Al Khaimah Real Estate” 0.52%. The energy sector also declined 0.12% after Dana Gas fell 0.42% and ADNOC Distribution 0.3%, while TAQA rose 0.7%.
On the other hand, the telecom sector rose 0.36%, after the share of “Etisalat” rose by the same amount. The investment sector also increased by 0.27%, benefiting from a 0.26% rise in “Al-Alamiah Holding” and by “Ishraq” by 1.31%, while Waha Capital stabilized without change.

Liquidity orientation

“Emirates NBD” issued trades on the Dubai market, at a value of 44.25 million dirhams, closed at 9.73 dirhams, followed by «Aramex» with a liquidity of 44.2 million dirhams to close at 4.17 dirhams, and then «Dubai Islamic», which attracted 20.4 million dirhams of trading to close at 4.1 dirhams. .
In the Abu Dhabi market, the lead for «Global Holding», followed by «First Abu Dhabi» through transactions worth 134.32 million dirhams, and closed at 11.16 dirhams, then «Abu Dhabi Commercial» trading value of 100.7 million dirhams, to close the share price at 5.63 dirhams.
And «Commercial Bank of Dubai», the highest rise in the Dubai market by 4.11%, closing at 3.8 dirhams, while «City Finance» recorded the most decline by 3.51% to close at 0.192 dirhams.
The biggest gainer in Abu Dhabi market was “Ras Al Khaimah Ceramics” by 5.19%, to close at 1.42 dirhams, and in contrast, the biggest decliner was Abu Dhabi Commercial, by 2.93% to 5.63 dirhams.

Nationalities

In terms of trades by nationalities in the Dubai market, Gulf investors and citizens have tended to buy, with a net investment of 28.4 million dirhams as a purchase, of which 4.86 million dirhams were the sum of Gulf buyers and 23.55 million dirhams from citizens’ purchases.
On the other hand, Arab and foreign investors tended towards liquidation, with a net investment of 28.4 million dirhams from sale, distributed by 5.5 million dirhams from the sale of Arabs and 22.89 million dirhams from the sale of foreigners.
In the Abu Dhabi market, foreign and Arab investors tended towards buying, with a net investment of 296 million dirhams as a result of the purchase, of which 292.34 million dirhams were the result of foreign purchases and 3.66 million dirhams from the purchase of Arabs.
On the other hand, the local and Gulf investors tended towards liquidation, with a net investment of 296 million dirhams from sale, distributed by 6.97 million dirhams from the sale of Gulf citizens and 289 million dirhams from the sale of citizens.
Foreign (non-Arab) investors focused their purchases on shares of “Aldar”, “ADNOC Distribution”, “Abu Dhabi First”, “Abu Dhabi Commercial” and “Al Alamiah Holding”, while their sales focused on the shares of “Union Real Estate”, “Emaar Malls” and Dubai Islamic.

Institutions

The performance of investment portfolios that tended to buy in the Abu Dhabi market varied, with a net investment of 19.6 million dirhams as a result of buying, while it tended to liquidate in the Dubai market, with a net investment of 16.7 million dirhams as a result of selling.
On the other hand, individual investors tended to buy in the Dubai market, with a net investment of 16.7 million dirhams as a result of buying, while they tended to sell in Abu Dhabi, with a net investment of 19.6 million dirhams as a result of the sale.

490 million net investments from the Gulf and the Arabs since the beginning of the year

The pace of Gulf and Arab investments in the UAE financial markets has increased during the past weeks, and it tends to invest in the medium term rather than speculation, which was evident through the increase in their net investment in the market to about 490 million dirhams from the beginning of this year until 19 October, According to the statistics issued by the Abu Dhabi and Dubai Financial Market, and published by WAM.
The increase in the investments of this segment of investors comes in anticipation of the listed companies’ disclosure of their financial data for the third quarter of this year, in addition to the positive news issued by a group of leading companies on the development of their business, which stimulated investment in the markets.
It is evident through the statistics issued by the financial markets that the total value of Gulf and Arab investors ’trades amounted to about 19.8 billion dirhams, buying and selling, which constitutes 10% of the total trades recorded since the beginning of the current year until the date of the current October 19, and the value of 198.8 billion dirhams is buying and selling.
At the market level, the value of Gulf and Arab transactions in the Dubai Financial Market amounted to approximately 13.68 billion dirhams, buying and selling, and their net investment reached 120 million dirhams during the same monitoring period.
As for the Abu Dhabi Stock Exchange, the value of their transactions reached 6.12 billion dirhams, buying and selling, and their net investments reached about 370 million dirhams.
It is expected that Gulf and Arab investments in the financial markets will increase during the remainder of this year.