Positive sentiments prevail in UAE stock markets

In ADX, calmness prevailed amidst a relative decline in the value of most of the blue chips

  
A trader monitors stock information at Dubai Financial Market, in Dubai, United Arab Emirates. Image used for illustrative purpose.

A trader monitors stock information at Dubai Financial Market, in Dubai, United Arab Emirates. Image used for illustrative purpose.

REUTERS/Stringer
ABU DHABI: The UAE stocks maintained their bullish trend on the first trading day of the week supported by the realty sector led by Emaar, which closed on a high note of AED7.30.

The positive performance of the Dubai property giant reflected favourably on the entire real estate sector at DFM whose general index rose 0.53 percent, to around 3,513 points, while the capital's bourse declined slightly by 0.13 percent as compared to the Thursday session.

According to market analysts, the state of calmness observed on the market is attributable to traders awaiting the 2017 Q4 financial disclosure which will shed more extensive light on the stock market trends over the coming period.

Advancing shares on Sunday included Emaar Development which spiked to AED5.76, Damac to AED3.43, with Aldar edging up to 57 fils and Dubai Islamic Bank to AED6.54.

In ADX, calmness prevailed amidst a relative decline in the value of most of the blue chips, including FAB which closed at AED10.95 and ADCB at AED7.92.

In terms of liquidity, a total of 3534 deals worth AED350 million were conducted over 235 million shares, with 32 firms out of 69 closing high, 26 down and 11 at their last traded prices.



© Copyright Emirates News Agency (WAM) 2018.

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