National banks invest AED200 million in stock markets in April

ABU DHABI, National banks invested AED200 million in local stock markets in April 2020 after stock prices reached attractive levels, an increase of 2.2 percent compared to March 2020.

This investment led to an increase in the prices of many stocks, which positively affected general indexes over the past weeks.

Attractive stock prices encouraged individuals and traders to benefit from resulting opportunities and make profits.

The renewed investment of banks has raised the total cumulative balance of investments in stocks to AED9.2 billion at the end of April 2020, compared to AED9 billion in March 2020, according to statistics issued by the Central Bank of the UAE.

Transactions in financial markets from the beginning of April 2020 until the second half of May 2020 showed an increase in terms of leading stocks in the Abu Dhabi and Dubai financial markets, by rates averaging between seven percent and 15 percent.

Shares that generated the most profits during the reporting period were in the real estate and banking sectors, as well as in the telecommunications sector.

 

Source: Emirates News Agency

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