Business

ADX Executes AED149 Million Transaction in IHC Shares

ADX has signed a big direct deal on its integrated system involving IHC shares. With transaction value crossing AED149 million, the deal highlights the ongoing activity across the Emirate’s financial markets.

The transaction consisted in the simultaneous purchase and sale of 360,000 IHC shares at AED414 each.

Such direct deals as this one do not take place through the normal electronic bidding and trading and orders and therefore do not affect the company closing share price or even the index price. They do not affect the day’s high or low, or the 52-week high or low either.

This move shows that the ADX is in charge of standardizing high-value trades and ensuring market stability as investors conduct their strategic trade easily. Such deals are indicative of the self-confidence with regard to the capability of the Abu Dhabi stock market and its increasing popularity among regional as well as international investors.

Dubai News Staff

Recent Posts

AURA Skypool Welcomes Families for the First Time with Night Swims for Kids

AURA Skypool is the world celebrated sky pool in Dubai that has finally opened its…

10 hours ago

UAE Flights Delayed and Cancelled Amid Regional Airspace Closures

Air service in the UAE has been badly affected after regional airspace were closed due…

10 hours ago

Taste the World in Dubai: Global Cuisines Without the Passport

The multicultural restaurants in Dubai provide a global foodie passport that does not require flights…

1 day ago

Dubai Metro’s Burj Khalifa-Dubai Mall Station to Expand for 220,000 Daily Passengers

The Roads and Transport Authority in Dubai (RTA) have recently revealed a significant enlargement plan…

1 day ago

Dubai to Launch 637 Eco-Friendly Buses to Boost Green Public Transport

The Road and Transport Authority (RTA) of Dubai has announced that they will make fleet…

2 days ago

Indoor Adventures in Dubai: Top Family Activities for the School Holidays

School holidays in Dubai are nearing, and temperatures are rising, so it is best that…

2 days ago