The performance of the UAE markets changed on the country’s first trading day Friday following the implementation of the new system for the federal government sector’s weekly work, which will be four and a half business days, Monday through Thursday, and half a working day on Fridays, while the money markets will work full time on Fridays From ten in the morning until three in the afternoon.
At the close, the Dubai financial market posted a 0.75% rise to 3,219.57 points, while the Abu Dhabi Securities Exchange fell 018% to 8,379.475 points.
The decision applies to all entities in the federal government sector of the country, where official working hours, in based on the new decision, it will be from 7:30 am to 3:30 pm Monday to Thursday, 8 business hours.
Marwan Shurrab, Head of Al Ramz Capital’s Individuals and Special Accounts Department, expected the liquidity momentum in the Dubai market to improve in the next period this month with an increase in quotes and supporting investment funds.
He added that what we are seeing now in calm markets is a natural thing, especially with the start of the year, noting that at the beginning of the first week of the year the trading volumes will be in drop, and “we saw it today in the Dubai market on leading stocks “.
He explained that there are some indications of an upcoming market recovery with the emergence of a maker in the market, pointing out that these characteristics have begun to manifest themselves on the trend of contracts. future for Dubai shares, in addition to the prominent share price movement in they.
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