Decent gains of AED10.2 billion held by UAE stock markets over two sessions

ABU DHABI — The UAE stock markets continued their gaining streak Monday for the second session running led by the real estate and banking sectors, which drove the market capitalisations of trading companies to book AED6.1 billion in gains, and a total of AED10.2 billion in two sessions.

With the Dubai Financial Market General Index on the rise by 0.82 percent, closing at 3602 points, Abu Dhabi Securities Exchange gained 1.14 percent, rising to 4575 at the end of today’s session, which accordingly ended in the green in a bullish trend that went even beyond expectations, according to analysts, in the build-up to the disclosure of H2 financial statements.

For the second straight session, Damac continued its robust spike, jumping to AED4.57 before scaling down its gains and closing at AED4.43 in a 3.8 percent growth over its last traded price amidst AED99 million of transactions.

Emaar broke the AED8.01 mark, paving the way for setting new highs over the coming days, with Arabtec following suit and closing on a high note of AED3.58.

Decent gains were held by Takaful Insurance shares, with Abu Dhabi Securities Exchange supported by a spike in Etisalat which rose to AED18.35 and the ever-rising First Abu Dhabi Bank which closed high at AED10.85, with Aldar following suit and ending high at AED2.37.

A total of 6049 deals were done worth AED605 million over 360 million shares, with 30 companies closing high, 24 down and 10 at their last traded prices.

Source: Emirates News Agency