AED 5 Billion gains in UAE shares supported by real estate

Media In Abu Dhabi – 17 February 2019 /
UAE stock markets boosted their gains with the start of the week’s trading and the market value of shares traded traded about 5 billion dirhams at the end of Sunday’s session.
The improvement in the markets, supported by the announcement by some leading companies of good financial results for the year 2018, which encouraged the circulation of both institutional investors and individuals.
According to the daily monitoring of transactions, the general index of the Abu Dhabi Securities Market rose by 0.65% at 5069 points, while the general index of the Dubai Financial Market increased by 0.64% to close at 2549 points.
Market analysts said the financial performance of most companies was very positive for 2018 after it succeeded in increasing profitability in excess of the expectations of many analysts, stressing that the good profitability achieved by companies will contribute to increase the proportion of distributions to shareholders.
The biggest support for the markets came from the real estate and communications sectors. Emaar Properties gained 4.18 dirhams by 2%, after the company reported a good growth in profits from last year. Emaar Properties rose to 3.82 dirhams, followed by Emaar Closed at 1.62 dirhams.
On the Abu Dhabi Securities Exchange, Aldar rose to AED1.71, while Etisalat jumped to AED16.94, which enabled it to boost the gains in the capital market.
In terms of liquidity movement, the value of transactions in the Abu Dhabi and Dubai Financial markets amounted to about AED 278 million and the number of shares traded reached 160 million shares executed through 3794 transactions.