• Sat. Apr 13th, 2024

Rising Real Estate and Banking Stocks Fuel UAE Stock Market Growth

BySamantha Jones

Apr 3, 2024
The UAE stock market sees green as liquidity hits 1.47 billion dirhams.

On Tuesday, UAE stocks saw continued gains, thanks to the contributions of leading real estate companies in Dubai and major banks in Abu Dhabi. While most other leading stocks remained stable, some companies experienced partial profits. The Dubai market index rose by 0.14% to 4269.4 points, while the Abu Dhabi market index went up by 0.08% to 9252.61 points. Foreign (non-Arab) investors contributed a net investment of 126 million dirhams, with 94.7 million dirhams in Dubai and 31.1 million dirhams in Abu Dhabi.

In Dubai, shares of “Emaar Properties” and “Emaar Development” continued to rise, while “Union Properties” experienced a slight decline. In Abu Dhabi, bank shares like “First Abu Dhabi” and “Abu Dhabi Commercial” supported the market index.

Liquidity in the markets totaled 1.47 billion dirhams, with 988 million dirhams in Abu Dhabi and 483.7 million dirhams in Dubai. Trading saw 526 million shares exchanged, with 281.3 million shares in Dubai and 244.7 million shares in Abu Dhabi.

The Abu Dhabi market index saw increases in sectoral indices for financial, communications, and health care stocks while energy and industry saw declines.

In the financial sector, “Investcorp” shares rose while “Multiplay” declined.

In terms of communications, “Etisalat E&” and “Yahsat” saw increases.

Energy sector companies like “Dana Gas” and “ADNOC Distribution” experienced declines.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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