Page 14 - Union Properties General Report - August 2024

9/2/24, 12:03 PM Dubai Equities Shine Brightest In GCC This Year

The financial indices' growth was mainly attributed to gains in large-weighted banks and
insurance companies including Emirates Investment Bank (5 per cent) and Dubai Islamic

Bank (5.5 per cent).“The industrial index recorded the biggest monthly gain of 3.9 per cent to
close the month at 2,979.1 points mainly driven by a gain in shares of Parkin that was up

nearly 11.3 per cent during August,” a report, written by Junaid Ansari, Kamco Invest's head of
investment strategy & research, Mohamed Ali Omar, associate and Vineetha K. Yeluri,

analyst, said. The communications sector index followed with a gain of 3.8 per cent after the
sector's only constituent company, Emirates Integrated Company, recorded a 3.8 per cent
share price rise during the month.

In terms of monthly performance, Watania International Holding topped with a gain of 42.3 per
cent followed by International Financial Advisors, Dubai Refreshment and United Kaipara

Dairies with gains of 17.3 per cent, 16.0 per cent and 14.9 per cent, respectively.

In terms of trading activity, total monthly volume dropped 22.4 per cent to 4.1 billion shares vs.
5.3 billion shares during the previous month, while monthly value traded fell 14.5 per cent to
Dh8.0 billion as compared to Dh9.3 billion during July 2024. Shares of Drake & Scull

International topped the value traded chart with total trades worth Dh1.1 billion followed by
Shuaa Capital and Union Properties at Dh401.5 million and Dh360.3 million, respectively. In

terms of monthly volume, Emaar Properties topped with 2.0 billion traded shares followed by
Emirates NBD and Dubai Islamic Bank at 986.4 million and 888.6 million shares, respectively

In Abu Dhabi, the benchmark FTSE ADX index fell marginally by 0.6 per cent last month,

registering its first monthly decline after two consecutive months of gains to close the month
at 9,284.93 points. The monthly fall also strengthened the indices' YTD 2024 decline to reach

3.1 per cent in August.

The performance of the ten sector indices on the exchange was steeply skewed to the

decliners during the month as six indices recorded declines while the four remaining indices

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