Friday 22/November/2024 – 04:38 PM
The UAE Stock Exchange fell, despite the rise in oil prices, and the Dubai Stock Exchange ended a series of gains for 6 sessions, amid continued tension among investors due to the escalation of the conflict between Russia and Ukraine, as Russian President Vladimir Putin confirmed that Russia had launched a medium-range ballistic missile at Ukraine and warned of a global conflict.
The UAE Stock Exchange declined today
And retreat Abu Dhabi Index 0.9%, extending its losses to the third session, and most of the stocks listed on the index ended the session on a decline, with First Abu Dhabi Bank shares losing 1.1% and Aldar Properties shares losing 2.5%.
Global Holdings, which has investments in Adani Group companies, fell 1% after US prosecutors filed charges against the head of the Indian group, Gautam Adani, for his alleged role in providing a bribe worth $265 million to Indian officials.
Milad Azar, an analyst at XTP MENA, said that the potential impact of Adani’s large presence in the UAE, including strategic partnerships with Abu Dhabi National Oil Company ADNOC and large investments from the International Holding Company, affected market sentiment.
Four companies affiliated with International Holding, out of eight listed companies, closed lower, with Alpha Dhabi Holding shares declining 1.1%.
Abu Dhabi Ship Building Company shares fell 9.1% after touching its highest level ever at 6.40 dirhams per share.
Yesterday, Thursday, Abu Dhabi Shipbuilding Company signed a local contract to build the A-24 houseboat.
The Dubai Stock Exchange lost 0.1% due to a decline in financial and real estate sector stocks.
