Malik Salameh – Direct: UAE financial market indices declined at the end of this week’s trading, coinciding with the emergence of inflation data in the United States of America, and investors’ fears of an economic recession.
According to a survey conducted by “Mubasher” based on the data of the UAE financial markets, the Dubai Financial Market recorded market losses amounting to 2.022 billion dirhams, and the Abu Dhabi Securities Market achieved losses amounting to 28 billion dirhams, with a total loss of 30.022 billion dirhams, equivalent to 8.18 billion dollars.
Dubai Stock Exchange
The Dubai Financial Market index declined by 0.66 percent at the end of this week’s trading, reaching the level of 3559 points, compared to about 3583 points, at the end of last week’s session.
The market value of the Dubai Financial Market
The market value of Dubai shares recorded 622.523 billion dirhams by the end of this week, compared to about 624.545 billion dirhams the previous week, with market losses amounting to 2.022 billion dirhams.
Abu Dhabi Stock Exchange
The Abu Dhabi Securities Market declined by 0.73 percent at the end of the week’s trading, reaching the level of 9634 points, compared to about 9705 points last week.
The marine dredging company fell 8.96 percent, ADNOC Drilling 1.32 percent, Dana Gas 4.95 percent, Multiple Play Group 1.92 percent, and Agthia Group 0.41 percent.
--The market value of the Abu Dhabi Securities Exchange
The market value of Abu Dhabi shares recorded a value of 2.666 trillion dirhams at the end of this week, compared to a value of 2.694 trillion dirhams at the end of last week, recording losses of about 28 billion dirhams.
It is noteworthy that the UAE financial market indices jumped during the year 2022 amid the invasion launched by Russia on Ukraine, in addition to the Federal Reserve’s decisions to raise the interest rate since mid-March.
The Dubai Financial Market recorded market gains amounting to 170.715 billion dirhams, and the Abu Dhabi Stock Exchange achieved market profits amounting to 984 billion dirhams, with a total gain of 1.154 trillion dirhams, equivalent to 314 billion dollars.
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