The financial market in the Emirates
The financial market in the Emirates

The financial market in the Emirates revealed the continuation of work with the announced trading hours for all securities to be from ten in the morning until one o'clock in the afternoon, as of today morning 8/8/1441 AH corresponding to 7/4/2020 AD.

In a related context, the financial market in the UAE revealed the continuation of working hours announced for all listed securities.

The UAE financial market, in an official statement this morning, stressed its ability to access all its operational systems and implement market operations at all times and enable market participants to conduct their business normally.

In this regard, an official source at the Ministry of Interior in the Emirates revealed, yesterday evening, Monday, a 24-hour curfew in a number of Emirati cities, including Dubai, Abu Dhabi, Sharjah, Al Ain, Fujairah.

Whereas, the market in the UAE in the recent period has reduced the trading hours of all listed securities temporarily, to start at ten in the morning and continue until one o'clock as of Thursday, March 26 last.

At that time, the UAE financial market revealed in a statement posted on its website that the trading sessions are as follows:

The first session in the UAE stock market (opening auction): from 09:30 am to 10:00 am

The second session in the UAE stock market (the market is open - implementation): from 10:00 am to 01:00 pm

- The third session in the UAE stock market (closing auction): for listed securities from 01:00 PM to 01:10 PM

The UAE stock market excludes debt instruments and ETFs.

Fourth session in the UAE stock market (trading on the closing price): for all listed securities from 01:10 pm to 01:20 pm (except for debt instruments and ETFs).

Fifth session in the UAE stock market (the market is closed): for listed securities from 01:20 pm to 02:00 pm - (with the exception of debt instruments and indexes traded where it will be from 01:00 pm to 02:00 pm).

The UAE stock market on the UAE Stock Exchange confirmed the integrity of its systems and operational operations, as it always works to take all measures that would benefit the market and its dealers.

For its part, the UAE government has reassured all market participants of its ability to access all of its operating systems and implement market operations at all times.

On the other hand, an economic report revealed that the indicators at the present time confirm the cohesion of the economy in the UAE in light of the circumstance afflicting the economy at the global level in light of the current global economic crisis due to the Corona virus that is spread in many countries of the world.

The last report revealed that the financial reserves in the Emirates are sufficient to cover UAE imports by four years (47 months), and the growth came as a result of a continuous rise in demand deposits, which increased by 9.5 per cent from February 2019, in addition to an increase in time deposits by 6.6 per cent over Yearly basis also until February.

It is worth noting that the vital positive indicators at the moment within the UAE economy until the previous February, increased by 11.3% during the year, as banks ’liabilities on the public sector increased by 17.7% for the same period, while new mortgage loans provided by banks rose 142%. .