Page 13 - UNION PROPERTIES GENERAL REPORT - JUNE 2024

Industries Group and Mashreq Bank followed with gains of 28.1 per cent and 20.0 per cent,
respectively. On the decliner’s side, Agility topped the table with a decline of 68.2 per cent
followed by Al Salam Bank Sudan and Dubai National Insurance which recorded declines of
28.1 per cent and 20.0 per cent, respectively, during last month.

Trading activity witnessed moderate growth, with total volume traded rising by 14.9 per cent
to reach 3.8 billion shares during last month as compared to 3.3 billion shares during April.
The total value of shares traded during the month increased a relatively lower pace of 10.7 per
cent, to reach Dh7.8 billion as compared to Dh7.1 billion during April. Drake & Scull
International topped the monthly volumes, with 751.9 million shares changing hands last
month followed by Union Properties and Gulf Emaar Properties which saw 284.4 million and
266.9 million of their shares change hands respectively.
On the monthly value traded chart, Emaar Properties topped the list with Dh2.0 billion worth
of shares changing hands during the month, followed by Emirates NBD, and Dubai Islamic
Bank which saw Dh931.1 million and Dh656.5 million value of their shares traded, respectively.
In Abu Dhabi, the FTSE ADX index fell 2.3 per cent last month, continuing its declining trend
in 2024 to close the month at 8,862.58 points. The decline also steepened the fall in terms of
YTD-2024 performance that reached -7.5 per cent, the second biggest in the GCC. The
performance of the ten sector indices on the exchange was steeply skewed to the decliners
during the month as nine indices recorded declines while the only remaining index
witnessed a gain.
The industrial index posted the largest fall among the indices during last month with a
decline of 14.1 per cent to close the month at 2,382.4 points. The decline was led by the fall in
shares of several significantly weighted companies in the sector including Alpha Dhabi (-23.1
per cent) and Abu Dhabi Ports (-12.6 per cent).
Al Dhafra Insurance topped the monthly gainers chart for last month with its share price
increasing by 28.9 per cent, although the liquidity in the stock was minimal during the
month, followed by Bank of Sharjah and Union Insurance Company, which recorded gains of
19.3 per cent and 14.9 per cent respectively. On the decliner’s side, Presight AI led the way,
registering a 25.1 per cent decline last month followed by National Corporation for Tourism &
Hotels and Alpha Dhabi Holding which saw share price declines of 23.6 per cent and 23.1 per
cent, respectively. S
Trading activity on the exchange increased, after witnessing a broad decrease in April in the
GCC region mainly due to the Eid holidays. Total volume of shares traded increased by 64.6
per cent in last month to reach 7.1 billion shares as compared to 4.3 billion shares during the
previous month. On the other hand, the total value of shares traded recorded an increase of
74.5 per cent to reach Dh14.5 billion as compared to Dh25.2 billion in April.
Eshraq Investments topped the list of the most active stocks table during the month with 1.3
billion traded shares followed by Adnoc Drilling and Multiply Group, which traded 1.1 billion
shares and 589.0 million shares, respectively.
In terms of value traded, IHC topped the table with Dh4.7 billion worth of shares changing
hands during the month followed by Adnoc Drilling Company and Alpha Dhabi Holding at
Dh4.5 billion and Dh1.9 billion, respectively.
In the wider GCC, the MSCI GCC Index registered the biggest decline in 17 months after
declining by 6.4 per cent during last month to close at 658.85 points. The decline reflected fall
in four out of seven regional indices while three reported gains during the month. Saudi
Arabia reported the biggest decline during the month with the Tadawul All Share Index (Tasi)
falling by 7.2 per cent, the biggest monthly decline since September-2022, to reach the
lowest level in more than five months.

https://www.khaleejtimes.com/business/markets/uae-equities-lose-ground-in-may-reflecting-
regional-trends