UAE Stocks Soar as Market Liquidity Exceeds AED 1 Billion

UAE stocks generated strong cash flows Monday, with market liquidity surpassing AED1 billion. International Holding Company (IHC) and Dubai Electricity and Water Authority (DEWA) topped the market in terms of number of transactions.

The Abu Dhabi Securities Exchange (ADX) gained AED 885.8 million in liquidity, as compared to the AED 115.2 million gained by the Dubai Financial Market (DFM), with 207.5 million shares traded across more than 11,700 transactions.

The market capitalisation of listed stocks reached AED 3.593 trillion on Monday, divided into AED 2.916 trillion in ADX and AED 676.8 billion in the DFM.

IHC gained 0.03 percent closing at AED399.5, logging over AED 214.1 million in transactions, followed by Alpha Dhabi with a 0.1 percent increase, closing at AED19.16 and transactions worth around AED 102.3 million. Meanwhile, PureHealth logged transactions worth AED 98.3 million, closing stable at AED5.91 without any change.

In Dubai, DEWA took the lead with AED 24.5 million in transactions, closing stable at AED2.45, followed by Gulf Navigation Holding with transactions worth around AED 23.7 million, closing at AED7.23, marking an increase of about 1.12 percent. Emaar Properties closed at AED7.69, recording AED 14.4 million in transactions.

News Source: Emirates News Agency