Strong cash flows for UAE stocks in Christmas Day trade

UAE stocks exhibited strong cash flows on Monday, surpassing Dhs1bn in market liquidity.

The International Holding Company (IHC) and Dubai Electricity and Water Authority (DEWA) emerged as frontrunners in the market, leading in terms of the number of transactions.

On the Abu Dhabi Securities Exchange (ADX), liquidity topped Dhs885.8m compared to the Dhs115.2m gained by the Dubai Financial Market (DFM). The trading activity saw a substantial exchange of 207.5 million shares across over 11,700 transactions.

The total market capitalisation of listed stocks reached an Dhs3.593 trillion on Monday. Delving into the numbers, Dhs2.916 trillion of this was recorded on the ADX while Dhs676.8 billion occurred on the DFM.

In the realm of individual stock performances, IHC clinched a 0.03 per cent gain, closing at Dhs399.5. The company recorded transactions exceeding Dhs214.1 million, reaffirming its position in the market. Following suit, Alpha Dhabi marked a 0.1 per cent increase, closing at Dhs19.16, with transactions totaling around Dhs102.3m. Meanwhile, PureHealth maintained stability in trade after its IPO last week, with the stock closing at Dhs5.91, logging transactions worth Dhs98.3m.

In Dubai, DEWA took the lead with transactions amounting to Dhs24.5m, closing at Dhs2.45. Gulf Navigation Holding followed closely with transactions valued at approximately Dhs23.7m, closing at Dhs7.23, reflecting a 1.12 per cent increase. Emaar Properties closed at Dhs7.69, registering Dhs14.4m in transactions.