• Sat. Apr 20th, 2024

Dubai and Abu Dhabi Markets Report Record Gains in Real Estate and Financial Sectors

BySamantha Nguyen

Apr 2, 2024
Positive beginning for UAE stocks in early April trading

On Monday, the Dubai market index saw a 0.4% increase to reach 4263.29 points, with real estate shares leading the way. Meanwhile, in Abu Dhabi, the market also rose by 0.18% to 9245 points, driven by strong performance from banking shares.

In Dubai, four real estate stocks – Union Properties, Emaar Properties, Emaar Development and Deyaar – collectively accounted for approximately half of the Dubai market’s liquidity. These stocks were the focus of trading activity in Dubai. In contrast, in Abu Dhabi, shares of First Abu Dhabi Bank, Abu Dhabi Commercial and Abu Dhabi Islamic all experienced gains as did Taqa shares which rebounded after a previous decline.

Trading activity was substantial in both markets, including a large deal on Emirates NBD Bank shares in Dubai and three large transactions on Abu Dhabi National Hotels Company shares in Abu Dhabi. The rise in the Abu Dhabi market was supported by gains in the financial, industrial and utilities sectors while the Dubai market index saw increases in the real estate and industrial sectors. Despite declines in finance and utilities sectors in Dubai, overall market performance was positive.

Liquidity in Abu Dhabi was led by International Holding Company while trading in Dubai focused on Union Properties and Emaar Properties among others. Investors from various nationalities showed interest in both markets with different trends observed buying and selling activities.

Overall, both markets showed positive momentum with sectoral indices impacting individual stock performances affecting market movements despite some fluctuations investor interest and trading activity remained robust across various sectors

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

Leave a Reply