• Sun. Apr 21st, 2024

Dubai and Abu Dhabi Real Estate and Banking Boost UAE Stock Market Gains

BySamantha Nguyen

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

On Tuesday, the UAE stock market witnessed gains, driven by real estate companies in Dubai and banks in Abu Dhabi. While most other leading stocks remained stable, some companies saw 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.

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.

In the energy sector companies like “Dana Gas” and “ADNOC Distribution” experienced declines.

Real estate and health care sectors also saw mixed movements.

In Dubai, the market index rose with increases in the real estate sector and stability in banks while utilities and industrial sectors declined.

Shares of Emaar Properties and Emaar Development rose while Union Properties declined.

The utilities sector saw decreases in Empower’s share price.

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.

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