Media ININ Economy We Trust
MEDIA, Abu Dhabi, September 27, 2018 (WAM)
The market capitalization of shares traded on the UAE stock market reached AED 8.5 billion on Thursday, supported by selective buying on a number of leading stocks, a move that was pre-emptive to the start of the corporate reporting season. Daily transaction monitoring shows that purchases focused on real estate and banking stocks, as well as Etisalat listed in Abu Dhabi, after the company announced a repurchase of part of its shares. The general index of the Dubai Financial Market jumped to 2825 points, up 1.81%, while the general index of the Abu Dhabi Securities Market increased to 4948 points, a growth of 0.36% compared to the previous day. Emaar Properties came in at AED 4.95 and was close to breaking the AED 5 barrier. According to technical data, most of the sector’s companies, including Emaar Properties, rose to AED 5.24. Emaar Properties was AED 1.83 and Damac To AED 2.04. In the banking sector, Emirates NBD jumped to 9.50 dirhams, while Dubai Islamic Bank was AED 5.39. On the Abu Dhabi Securities Exchange, Etisalat rose to AED 16.70 after the company announced that it had obtained the approval of the competent authorities to buy a portion of its shares. Aldar Properties rose to AED 1.83. The value of transactions in the two markets amounted to 662 million dirhams and the number of shares traded 318 million shares carried out through 4396 transactions.
