• Sun. Apr 14th, 2024

Positive beginning for UAE stocks in early April trading

BySamantha Johnson

Apr 2, 2024
Positive beginning for UAE stocks in early April trading

The Dubai market index rose 0.4% on Monday to reach 4263.29 points, with real estate shares leading the way. In Abu Dhabi, the market also saw a 0.18% increase to 9245 points, driven by strong performance from banking shares. Trading in Dubai focused on four real estate stocks, including Union Properties, Emaar Properties, Emaar Development, and Deyaar, which collectively accounted for approximately half of the Dubai market’s liquidity.

In Abu Dhabi, shares of First Abu Dhabi Bank, Abu Dhabi Commercial, and Abu Dhabi Islamic all experienced gains, as did Taqa shares, which rebounded after a previous decline. The market saw substantial trading activity, including a large deal on Emirates NBD Bank shares in Dubai and three large transactions on Abu Dhabi National Hotels Company shares in Abu Dhabi.

The Abu Dhabi market’s rise was supported by gains in the financial, industrial, and utilities sectors, while the Dubai market index saw increases in the real estate and industrial sectors. Despite declines in the finance and utilities sectors in Dubai, overall market performance was positive.

Liquidity in Abu Dhabi was led by International Holding, Abu Dhabi National Hotels, Alpha Dhabi, and Multiplay, while trading in Dubai focused on Union Properties, Emaar Properties, Emaar Development, and Deyaar. Investors from various nationalities showed interest in both markets, with different trends observed in buying and selling activities.

Overall, both the Dubai and Abu Dhabi markets showed positive momentum, with sectoral indices and individual stock performances impacting market movements. Despite some fluctuations, investor interest and trading activity remained robust across various sectors in both markets.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

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