UAE capital markets: AED1.8 bn liquidity driven by real estate, banking blue chips

ABU DHABI, Abu Dhabi bourse today retreated 0.65 percent to 8,409 pts, while Dubai Financial Market edged up 0.79 pct to 3,216 pts driven by the real estate and banking blue chips.

DFM-listed Emaar Properties climbed 0.82 pct; Emaar Development 0.45 pct; Union Properties 0.31 pct; and Deyaar Development 0.02 pct. Emirates NBD rallied 1.1 pct, followed by Dubai Islamic Bank, 0.92 pct, while GFH soared 11.57 pct.

The upbeat sentiments in Dubai earned the bourse gains of over AED3 billion after closing at AED413.65 bn from AED410.403 bn yesterday.

At the Abu Dhabi Securities Exchange, the National Marine Dredging Company significantly rose 2.48 pct after being awarded a new AED 8.2 billion contract by Saudi Arabian Oil Company (Aramco).

Alpha Dhabi Holding slightly increased 0.13 pct after acquiring 25.24 pct shareholding in Al Qudra Holding,and boosted its stake in Aldar Properties to 29.8 pct after acquiring an additional 17 percent at the Abu Dhabi developer.

A total of AED1.43 bn in deals were conducted in ADX over 241.72 million shares, while DFM attracted AED428 million in transactions involving 241 million shares.

After today’s trades, ADX market cap stood at AED1.6023 trillion from AED1.6148 trillion yesterday.

Monday saw the UAE stock exchanges amending its trading week to Monday through Friday, with workhours remaining unchanged, opening at 10:00am and closing at 3:00pm in line with the government’s policy.

Source: Emirates News Agency

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