The UAE stock markets posted rich gains on Friday to $2.26 billion, fueled by upbeat sentiments in the realty, banking and telecom sectors and cash inflows by institutions and individuals alike.
Realty and banking blue chips accounted for the lion’s share of transactions that amounted to more than 14,700 worth around $454 Million over 353.7 million shares.
Dubai General Index (DFMGI) advanced 0.007 percent to 3,462.890 pts as blue-chip developer Emaar properties continued to hike, closing higher at AED6.100 after drawing $42.47 million in cash flows.
Among other stocks, Emirates NBD, Dubai Islamic Bank, and TECOM increased 1.84 percent, 0.84 percent and 0.41 percent respectively.
Abu Dhabi index (FTFADGI) rose 0.133 percent to 10,035.060 pts, with conglomerate International Holding Company (IHC.AD), traded as ASMAK, closing slightly down at AED341.00, after $84.95 million of liquidity and NBAD edging higher to AED20.200.
Among other stocks, Abu Dhabi Islamic Bank rose 1.32 percent to AED9.200 and ADNOC Distribution moved higher to AED4.690.