UAE stocks post AED5.5 billion gains

UAE stocks post AED5.5 billion gains

UAE stocks post AED5.5 billion gains

(Abu Dhabi) – Companies trading on the UAE two main bourses gained AED5.5 billion in market cap at the end of Sunday session, driven by selective purchases that targeted blue chips on the real estate and banking sectors.

Starting the week in the green, the General Index of the Dubai Financial Market moved up 0.97 percent to 3188 points, with the Abu Dhabi Securities Exchange following suit to 4533 points, 0.14 up against the Thursday session.

According to brokers and analysts surveyed by WAM, most of the transactions have been conducted on the realty and banking sectors in addition to some Takaful insurance companies. More liquidity is yet still needed to ensure more momentum on the market, according to industry analysts.

In more detail, Emaar moved up to AED6.06, followed by Emaar Development to AED5.22, with Emaar Malls closing at AED2.16. In the banking sector, Emirates NBD spiked to AED10.

At the capital’s bourse, FAB jumped to an all-time high of AED11, with Dana Gas edging up to 77 fils.

In terms of liquidity, a total of 3460 transactions were conducted worth of AED550 million over 256 million shares.

A total of 19 companies out of 64 trading today closed high, 35 down and 10 at their last traded prices.

Posted on Mar 11 2018. Filed under Business, Front, Headlines. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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