Tuesday, May 21, 2024
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Ramadan Brings Nine Big Deals Totaling Dhs1.6 Billion for ADX and DFM

Throughout Ramadan, nine sizable direct sales totaling Dhs1.6 billion were completed on 305.7 million shares on the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM).

Market data indicates that five significant direct deals totaling Dhs683.3 million on 243.4 million shares were executed on ADX. These comprised three deals totaling more than Dhs135.7 million on the stock of Abu Dhabi National Hotels Company, executed on 210.4 million shares at a price of Dhs0.645 per share; a Dhs509.8 million deal on 27.7 million e& shares at a cost of Dhs18.34 per share; and a Dhs37.8 million deal on 5.2 million Emirates Insurance Company shares for Dhs7.2 per share.

These included two deals on the stock of GFH Financial Group, worth Dhs28.7 million and Dhs22.5 million, executed on 30 million and 22.6 million shares, respectively, and a Dhs782.1 million deal on 3.9 million Mashreq shares and a Dhs100.5 million deal on 5.7 million Emirates NBD shares.

Deals carried out outside of the order book are referred to as “direct large transactions,” and they have no bearing on the closing price of the stock or the price index. The highest and lowest prices executed throughout the session and over the previous 52 weeks are likewise unaffected.

Real estate, banking, and financial companies were the main focus of the almost Dhs6.5 billion in liquidity brought to the UAE stock markets last week.

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Tuesday, May 21, 2024

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