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Dubaifinancial

Dubai's Salik begins debut trading on DFM at $0.65 The public offering of Dubai's Salik, which raised 3.735 billion UAE dirhams ($1.017 billion), started today at 2.40 UAE dirhams ($0.65) per share. It is up 20% from its IPO price. The company's IPO was over-subscribed by 49 times. It also announced that it would allocate a minimum of 1,000 shares to its subscribers in the first and second batches. In the first five minutes of trading, Salik's volumes exceeded 85 million shares. This was due to the heavy buying by retail investors, who were able to surpass their subscriptions. After five minutes, the stock was trading at around 2.27, up 13 percent. On the other hand, the other DFM counters, such as DEWA, were almost flat. Salik volumes easily crossed 100 million by 10:10AM Dubai time, it's believed that it could easily reach 200 million shares. Now, the total traded value of Salik's shares is around Dh414 million. Based on the current volume, it is believed that the company is poised to become the biggest traded IPO of the year on a listing day. If the market's expectations are met, it will be a remarkable achievement for the Dubai government, which has been aggressively pursuing its efforts to monetise its assets. The strong debut of Salik shows that the country's financial assets are still regarded as top-notch.
DFM:SALIK
by bbitar
Which Way?After a nice bull run market is been retracing for more than a month now, interestingly 2740 level is so far holding as support. We can see a bullish divergence and marking in a range for the last 1 week. Market is consolidating in the BOX if the break is to the upside which i am expecting then we can see it touch the swing high again but if it breaks downside more panic sell will trigger in the market. Over all market is very think and in a range I expect a big move very soon. Hit like & follow guys ;)
DFM:DFMGILong
by stalkstock
Is DFM hiding something up its sleeve?Dubai has established itself as a major financial hub and even though its tourism and aviation industry has slowed down right now, it is a great place to live in and I think there is tons of potential for it to grow on financial services or technology over the next 10 years. The coronavirus crisis has been managed effectively by the UAE government, much better than in many European countries. DFM has been in a downtrend since 2014, in a huge descending triangle, having tested 4 times in 10 years its support to ultimately consolidate for the past 18 months above it's 50 week moving average. After the coronavirus shock, in Dubai, the fear is everywhere and the sentiment is very low. Layoffs are everywhere, rents have fallen by 20%-30% in the past year, people are selling properties as fast as they can and everyone just wants the pain to stop. All of these signs usually coincide with market bottoms. The UAE government is taking steps to provide more of a permanent residency for a variety of people, the latest ones being the people who work from home as freelancers or employed by companies abroad, giving them the opportunity to enjoy the Dubai lifestyle and tax-free income. So far, many of the so called "digital nomads" have chosen different countries such as Thailand, but they might want to switch considering the latest developments. (monarch protests) In addition, the overspend of Europe, Australia & US on the Covid crisis will put pressure on them to increase some already high taxes over the next decade, pushing even more qualified workforce to a place like Dubai. Despite the ugly chart above, down sentiment and lack of momentum right now, there are major multi-month divergences on both OBV & MACD pointing to a potential move up. In addition, in September, property transactions increased and for the first time in a while there are positive price changes and even talk of undersupply in some established communities I'd wait for the triangle to be broken to the upside and for a weekly close above 0.999 to get in for the long term, cause I believe Dubai has the potential of being the next Hong Kong & Singapore.
DFM:DFM
by darkmode
EMAAR - Dubai Financial Market *****Please follow, like, and support this idea, if it helped you in anyway***** ***This is not a financial advise*** Emaar is on its way to fly high - and not thinking of looking back, It has broken the channel two time and got the rejection. On the third time with the double bottom, it might break all the resistance coming on its way. Additionally, it has also started trading as derivatives on the DFM, so buy and sell game will start Stocks holder - keep an eye for long term and the target of AED 8 is easy to attain with in 5 years of time, short term, please stay away as it will jump and retrace quickly due to derivatives pressure initially Overall, This is the heavy weight share on DFM, Chart was prepared on request from Mr. Omar
DFM:EMAARLong
by FOLLOW_PIPS
6
DFM Waiting for news?Another red doji candle for the day, its 3rd day the market is at the same place and not making any moves. As i mentioned in my previous idea its at the crucial zone its a support area. The market is little weak as of todays closing as its almost crossed the trendline BUT not confirmed yet!. My analysis say the market is at support as of now and we witnessed buyers coming in the moment market went lower to 2074 level. I am still bullish it can go up from here but if it fails the second scenario is the market can come down 2050 which is the low of the current swing high, and thn 2030 level. Once the market is below 2050 the sentiments will be bearish for sure. The more the market stays in the current area 2075 to 2085, the more it accumulates hence bigger the move on either of the sides.I am still bullish and expect market to go up. Hit like & follow :)
DFM:DFMGILong
by stalkstock
3
Dubai Financial MarketAs expected and as per my previous idea, it didnt go low and and through out the day it was almost side ways and gave a closing with a doji candle. Market is Indecisive at this stage & its at the crucial support level also right at the trend line. As mentioned in my previous plan it has to go up from this levels as the market have already consolidated & moved upwards. As long as we are above 2050 level i am bullish on this one i expect a green day tomorrow and a closing above todays candle. Hit Like & follow :)
DFM:DFMGILong
by stalkstock