UAE stocks gain $9.15bln in five sessions

The general index of the Dubai Financial Market therefore grew 7% over the five sessions of the week

  
A man stands near to a logo of the Dubai Financial Market in Dubai, United Arab Emirates, January 8, 2020.

A man stands near to a logo of the Dubai Financial Market in Dubai, United Arab Emirates, January 8, 2020.

REUTERS/Christopher Pike

ABU DHABI - The UAE's twin bourses continued today on their bullish trend backed by upbeat sentiments which manifested themselves in the listed companies gaining around AED33.6 billion in market cap since the beginning of Ramadan, with the mouthwatering prices of the majority of defensive stocks and blue chips driving the buying spree.

The general index of the Dubai Financial Market therefore grew 7 percent over the five sessions of the week, closing high at 2,026 against 1,891 last week.

The bullish trend was mainly driven by the rally in the realty and banking sectors. At DFM, the Emirates NBD rose to AED8.60 followed by DIB to AED3.67. Arabtec continued to increase and ended up at 71 fils.

In ADX, FAB edged up to AED11.60 and Abu Dhabi Islamic Bank to AED3.59.

The traded volume amounted to 383 million shares through 7,811 deals worth AED450 million.

© Copyright Emirates News Agency (WAM) 2020.


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