UAE stocks gain AED14.6 billion

ABU DHABI– Upbeat sentiments continued for the third day running on UAE two main bourses, with trading companies gaining around AED7 billion Tuesday, bringing to AED14.6 billion the total profits over three successive sessions.

The Abu Dhabi Securities Exchange General Index maintained its upward movement, reaching 4381 points, an increase of 0.59 percent over the yesterday’s session, with Dubai Financial Market General Index following suit, going up by 1.17 percent to close 3453 points.

All listed platforms contributed to the massive gains, primarily the realty, telecommunications and banking sectors which have been the real enablers for growth.

Though trading ceased over Emaar as the trading session synchronised with the property giant’s board meeting, its share closed on a high note, with Emaar Development rising high to AED5.50 followed by Emaar Malls which edged up to AED2.16. Damac and Arabtec closed on a spike as well at AED3.45 and AED2.48 respectively.

Emirates NBD translated the prevailing positive sentiments, closing at AED8.10, with the Dubai Islamic Bank following suit at AED6.14, Mashreq Bank at AED72.5 and Dubai Commercial Bank at AED4.20.

At ADX, Etisalat continued to fly high and closed at AED17.30, followed by NBAD at AED10.30. Aldar increased to AED2.22 and Dana Gas to 73 fils.

In terms of the volume of trading and liquidity, a total of 4951 transactions were conducted worth AED683 million over 437 shares.

Advancing shares outnumbered losing equities, with 45 companies out of 66 closing high, 12 down and nine firms at their last traded prices.

Source: Emirates News Agency