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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
Oil After Saudi Hikes Crude PricesBrent crude futures were trading at around $121 a barrel on Monday, after Saudi Arabia raised its oil prices for July. The country's official selling price for light crude was also raised. While it kept the premium for US barrels steady, it also raised prices for other products . The gains were largely due to last week's decision by the Organization of Petroleum Exporting Countries (OPEC+) to increase its output by about 600,000 barrels per day in July and August. However, markets are still questioning the group's ability to meet the demand. At a time when the US is experiencing a spike in demand, China's easing of its Covid lockdowns is also helping to boost oil consumption. As the US looks to increase the supply of crude oil to make up for the loss of Russian supplies, some traders noted that tUS might allow more Venezuelan and Iranian oil to be imported.
TVC:UKOIL
by bbitar
Bull Run Stage 1: 46,000. What You Say?Weekly Time-frame We have tested the $44,400 it seems like we have reach the top already. Will see what the daily TF will tell us. $43,132 needs to hold to continue the trend to the upside flipping it and making it a demand zone would mean we can have a breakout to the double bottom. 1D Time-frame We are currently in the supply zone if demand is greater than supply then we can expect more pump to the upside. Daily time-frame is still bullish. Greed and Fear index is #47 which is neutral. If we don't hold it then short position from $44,400 to the downside. 4H Time-frame 4h TF is bullish we have higher high for our Awesome Oscillator and made a higher high candle. I hope you all took profit from the drop before it went up. It was a risky trade indeed. not good to sit on a rocket ship. I will always inform if we are having some reversal trade so all will be careful in entering the position. We will discuss more on the possibility on our Live. Stay tune and check with us! Want more insights before US market open? Hit Like, Share, and Subscribe for more daily trading tutorial & cryptocurrency news Trade Scholar, the best cryptocurrency educational community online! Find the content above difficult to understand? Feeling lost about how to trade? Want to learn how to do your Own Price Prediction? We endeavour to share you our investment knowledge & experience in order to help you starting your path to financial freedom. Follow, Subscribe & Join our Community to trade together! Disclaimer: Above Technical Analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
BINANCE:BTCUSD.PLong
by Trade_Scholar
Bags $4M FundItheum announced investments from Elrond, Mechanism Capital, and other crucial investors; raising their funds from $11.5M to $14M. The initial $11.5M came from an earlier round funded by Morningstar Ventures, incubating Itheum via their Elrond Dubai Incubator. The additional investments included Elrond Foundation, Mechanism Capital, Woodstock, Ascensive Assets, Skynet EGLD Capital, MHC Digital Finance, ZBS Capital, and Spark Digital Finance. Itheum’s Founder Mark Paul commented on the recent eventful months of Itheum.
Long
by Erica6560
New HighToday market surprised us by making a new high in the time of "uncertainty" as the peace talks are progressing for now if the out come of the meeting is positive markets internationally will react positively with a big move. Dubai Stock Market is bullish ( Index ) some stocks are in down trend lets stay away from them and focus on positive stocks. Today index have made a new high and more upside is surely expected. Major resistance is at 3530 zone which will also be broken soon once news listings start joining the index. Bullish!! Hit like & follow guys ;)
DFM:DFMGILong
by stalkstock
Long Term View - Bullish This is the monthly chart of DFM Index, market is in a healthy uptrend since April 2020 the best part is its moving up with small corrections and we dont see any parabolic moves. To continue a trend its always good that market corrects itself or come back to equilibrium to resume the primary trend. For now immediate hurdle for the market is to cross 3300 level. Next and major resistance is at 3650 level, market will not straight away climb up as usual we will have pull backs which will be seen as buying opportunities keeping in mind 2022 will see many IPO's and all are heavy weighted as these companies are govt. entities and will carry weightage on the index. Not to forget about RSI which is a momentum indicator for now its above 60 which also indicates the momentum is to the bullish side. I think 2022 will be very good for Dubai Stock Market and there are good chances that we may see new highs. Very good time to invest in DFM! over all very bullish I recommend everyone to invest in dubai, invest in uae this is the right time. Wishing you all a very happy new year!!! Hit like & follow guys ;)
DFM:DFMGILong
by stalkstock
At a crucial levelMarket is at a crucial level for now, to be bullish market have to close above 3175 else market will be under more pressure. Looking at the covid scenario more economies are implementing travel restrictions as cases are increasing rapidly around the world. Most likely markets will be under pressure till there is significant news about the vaccine or cases drop drastically. Its better to stay away from the market till the storm is settled. Hit like & follow guys ; )
DFM:DFMGI
by stalkstock