UAE stocks rebound, gaining AED31.8 bn

ABU DHABI, Driven by a buying spree targeting blue chips at the banking and realty sectors, UAE financial markets rebounded Tuesday, with the listed companies securing AED31.8 bn in market cap by the end of today’s session.

Amidst the bullish sentiments, the DFM’s General Index picked up 7.32 pct, closing high at 2,231 points, with ADX following suit, rising 5.52 pct over the last trading session to 4,262 pts, with the trades conducted across the two main bourses hitting AED700 mln in 9758 transactions over 424 million shares.

Emirates NBD was among the best performers, rising to AED9.62, with Dubai Islamic Bank maintaining its upward streak, closing high at AED4.92. Emaar edged up to AED2.90, and ARAMEX PJSC. closed at AED2.86.

In ADX, FAB closed high at AED12 , followed by ADCB at AED5.8, ABU Dhabi Islamic Bank at AED4.63, and Aldar to AED1.96, while Etisalat was the best performer, spiraling to AED13.82 by the end of today’s session.

Source: Emirates News Agency