UAE stock markets gain $1.88bln in two successive sessions

Abu Dhabi ADX closed on a high mote of 4356 points, an increase of 1.43%, with Dubai DFM following suit, closing up 0.55% to 3414 points

  
Image used for illustrative purpose. Investors watch monitors at the Dubai International Financial Market, May 20, 2010.

Image used for illustrative purpose. Investors watch monitors at the Dubai International Financial Market, May 20, 2010.

REUTERS/Ahmed Jadallah
ABU DHABI -- The UAE stocks Monday continued their winning streak for the second day running, gaining a total of AED7.6 billion, bringing to AED9.6 billion the total profits in two successive sessions.

The Abu Dhabi Securities Exchange General Index closed on a high mote of 4356 points, an increase of 1.43 over the last session, with the Dubai Financial Market following suit, closing up 0.55 percent to 3414 points.

Property companies were the main growth driver, with Emaar flying high to AED7.70, followed by Emaar Development which closed up 2.6 percent at AED2.49. Arabtec reflected the same upbeat sentiments, closing on a spike at AED2.45, with Mashreq Bank reinforcing gains after rising high to AED69, Dubai Commercial Bank to AED4.15 and Dubai Islamic Bank securing decent gains after closing high at AED6.04.

For the first time in several months, Etisalat broke the AED17 mark, closing at AED17.10, with NBAD rising to AED10.25. The ADX-listed Al Qudra Holding witnessed growing transactions, sending its share high to AED1.21.

In terms of liquidity and trading volume, 27 out of 66 companies closed in the green, with 20 firms down an 19 at their last traded prices.



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