AED 3 billion gains in UAE stocks

Media In Abu Dhabi – 7 January 2019 /
UAE stock markets continued their gains for the second day in a row as institutional sentiment improved, boosting the market value of traded shares by nearly AED 3 billion, according to a daily analysis of transactions.
The banking sector continued to provide support to the financial markets for the second session as institutional purchases of bank stocks continue to be expected, with earnings expected to rise well in 2018.
The general index of the Abu Dhabi Securities Market rose 0.62% to close at 4934 points at the end of trading today, while the general index of the Dubai Financial Market at 2534 points growth of about 0.14% during the same monitoring period.
Market analysts said the continued improvement in market indices was in anticipation of banks’ announcement of their financial statements for the previous year, which encouraged the governor to buy during the past two days.
Market analysis shows today that Emirates NBD listed in Dubai rose to AED 9.09, while ADCB rose to AED 8.24, followed by ADIB to AED 4.04 and ADIB closed at AED 14.22.
In terms of liquidity, the value of transactions in the Abu Dhabi and Dubai Financial Markets amounted to 250 million dirhams compared to 220 million dirhams the previous day and the number of shares traded 194 million shares carried out through 4173 deal.