DFM sees Dhs67.5m direct deal on Al Ramz

The Dubai Financial Market (DFM) has witnessed the execution of a large direct deal on the shares of Al Ramz Corporation Investment and Development PJSC with a total value of Dhs67.5 million.

According to DFM data, the deal was executed on 48.2 million shares at an execution price of Dhs1.4.

Large (automated) deals are offered by local markets to investors and brokerage firms, enabling the completion of such deals on the shares of a listed company without being bound by the price range limits in force in the market.

Large direct deals executed do not affect the closing price of the shares of the company concerned or the general index. They also do not affect the highest and lowest prices executed during the session or during the last 52 weeks.

Ahmed Negm Head of Market Research MENA at XS.com said that GCC stock markets recorded limited performances and could continue to stagnate during the remaining trading sessions of the year. At the same time, expectations of a softer monetary policy could help support markets while energy volatility and geopolitical tensions could continue to pose risks.

The Dubai stock market recorded limited price developments and continued to hover near levels during the last few days. The market could continue to stagnate for the remaining trading sessions of the year. However, it could benefit from the improving sentiment on a global scale.

WAM