UAE stocks gain Dhs4.1 billion


17/07/2017 06:02 AST

The UAE equity markets on Sunday continued their bullish trend which started last week, with the positive mood prevailing over all sectors led by the property market which posted robust growth in the run-up toward the announcement of the 2017 H1 financial results by leading companies. With the market capitalisation of trading companies gaining Dhs4.1 billion, today’s session saw Damac outperforming with Dhs45 million worth of transactions, growing high by around 6.5 per cent to close Dhs4.27.

Emaar beefed up the trend, approaching to break the Dhs8 mark which it already did during the first half of the session today, closing at Dhs7.97 following a normal profit booking streak.

The rest of the property sector companies capitalised on the upbeat sentiments, including the Union Properties which closed high at AED0.963 and Diar which ended at 53 fils.

At Abu Dhabi Securities Exchange, Eshraq Properties rose to 96 fils. In the meantime, the Dubai Financial Market General Index grew by 1.01 per cent to 3573 points, with ADX rising to 4524, closing higher by 0.13 per cent as compared to the Thursday session.

The stocks therefore closed in the green at the end of Thursday’s session, with 35 companies out of 64 trading firms closing higher, against 14 down and 15 at their last traded prices.

A total of 4038 deals were conducted worth Dhs713 million over 320 stocks.

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