UAE Stocks Experience Recovery, Investors Show Confidence in COVID-19 Resilience

On Thursday, UAE stocks experienced a recovery, partially regaining some of the losses suffered in a volatile session. This was largely due to positive movements in leading companies from various sectors such as real estate, financial services, energy, and technology.

In Dubai, Emaar Properties, Emirates NBD, Drake, and Dubai Islamic were among the companies that saw gains in their share prices. In contrast, Abu Dhabi saw concentration on liquidity towards International Holding, ADNOC Gas, Alpha Dhabi, Alef Education, and PureHealth. The total liquidity traded was 1.2 billion dirhams with a significant portion of it in Abu Dhabi compared to Dubai.

The markets witnessed a mix of positive and negative movements in share prices as well as active trading volumes across both cities. Sectoral increases were seen in the financial sector in Abu Dhabi while decreases were recorded in utilities and finance sectors. In Dubai’s market real estate stocks showed an increase while finance stocks declined. Companies like Air Arabia, Gulf Navigation, and Parkin saw positive movements while others experienced declines.

People from different nationalities showed varying investment patterns with some inclined towards buying shares while others tended towards liquidation. Foreign and Gulf investors were active buyers of shares in Dubai while Arab investors and citizens leaned towards liquidation. Investment portfolios recorded net investments from sales indicating ongoing activity in the markets.

Overall the recovery seen on Thursday was due to increased investor confidence following improved economic conditions coupled with successful government policies aimed at supporting businesses during the pandemic.

It is worth noting that this recovery is not without its challenges as global economic uncertainty continues to persist which could lead to volatility once again in the stock markets.

The rise of UAE stocks reflects optimism among investors about the country’s ability to weather economic challenges brought upon by COVID-19 pandemic as well as its resilience to maintain its position as a major player in international trade and finance.