Six companies, including Emaar Properties, Emaar Development, Dubai Islamic, Dubai Investments, Union Properties, and Emirates NBD, accounted for 68% of liquidity in the Dubai stock market based on trading results yesterday. The total trading volume of shares of these six companies amounted to approximately 326.9 million dirhams, which represents 68% of the total trading volume in the Dubai stock market, which was approximately 482 million dirhams.
The trading volume of Emaar Properties shares was around 130.034 million dirhams, which indicates a decrease of 0.35%, followed by Emaar Development with a trading volume of approximately 71.16 million dirhams, increased by 0.74%, then Dubai Islamic with a trading volume of around 40.57 million dirhams, increasing by 0.52%. The list also includes Dubai Investments with a trading volume of approximately 29.35 million dirhams, increasing by 1.33%, then Union Properties with a trading volume of around 28.23 million dirhams, rising by 2.57%, and Emirates NBD with a trading volume of about 27.54 million dirhams, decreasing by 1.17%.
The stock market indicators varied yesterday: the Abu Dhabi market index rose by 0.28% to 9619.72 points, while the Dubai market index fell by 0.15% to 5380.21 points.
On the other hand, the Abu Dhabi National Oil Company (ADNOC) - the main shareholder, currently owning 90% of the shares of ADNOC Gas Limited (ADNOC Gas) in its initial public offering on the Abu Dhabi stock exchange, announced intentions to sell roughly 3.1 billion shares of ADNOC Gas through the "Market Maker" program. 3,070,056,880 shares will be sold, which constitutes 4% of the authorized and outstanding capital of ADNOC Gas. Trading started yesterday and will conclude today (February 21). ADNOC and ADNOC Gas will be subject to the usual lock-up period of 180 days, considering usual exceptions unless they are waived by the relevant international organizations.
