• Wed. Apr 17th, 2024

Rising Dubai and Abu Dhabi Stocks: Real Estate Companies and Banks Drive Investment Gains

BySamantha Jones

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

Dubai and Abu Dhabi stocks continued to see gains on Tuesday, with real estate companies and banks contributing to the rise. The Dubai market index rose by 0.14%, while the Abu Dhabi market index went up by 0.08%. 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, 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. Liquidity in the markets totaled 1.47 billion dirhams, with 988 million dirhams in Abu Dhabi and 483.7 million dirhams in Dubai. Trading saw 526 million shares exchanged, with 281.3 million shares in Dubai and 244.7 million shares in Abu Dhabi.

The financial sector saw mixed movements in both markets, with Investcorp rising in Dubai and Multiplay declining in Abu Dhabi. The communications sector also experienced mixed results, with Etisalat E& and Yahsat increasing in both markets while energy sector companies like Dana Gas and ADNOC Distribution declined slightly.

The real estate sector saw significant gains across both markets, with Emaar Properties and Emaar Development leading the way in Dubai while Deyaar declined slightly there too.

The utilities sector experienced mixed results as well, with Empower declining slightly in Dubai but stable otherwise while Tabreed declined across both markets.

In terms of trades by nationalities, Gulf investors tended towards buying across both markets while Arab investors leaned towards liquidation alongside foreign investors who also tended towards buying.

Overall, it was a positive day for stocks across the UAE as real estate companies and banks played major roles

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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