Dubai: Bulls continue to hold firm on UAE bourses on Tuesday as real estate shares were back in the limelight. Dubai’s benchmark index — DFM — closed 1.33 per cent higher at 3280.39 points.
The bellwether Emaar Properties rose 2.99 per cent and Emirates NBD by 1.50 per cent.
The new initiatives on holiday homes market, doubling transfer fees on sales and mortgage caps are expected to fuel growth in the property market.
Among the gainers, Depa rose 10 per cent to $0.660, followed by Agility by 9.33 per cent to Dh9.84 and Deyaar by 6.48 per cent to Dh0.969.
National Industries Group suffered the worst by 9.99 per cent to Dh7.66, followed by Al Salam Sudan by 2.08 per cent to Dh1.88 and Al Salam Bank — Bahrain by 1.77 per cent to Dh1.11.
Of the 32 companies traded, 19 rose, eight fell and five remained unchanged.
About 843.89 million shares worth Dh999.73 million were traded.
Gulf Finance House was the active volume leader while Deyaar was the active value leader on Dubai bourse.
Abu Dhabi
In Abu Dhabi, the ADX index closed 0.27 per cent up at 4160.85 points.
Among the gainers, Eshraq rose by 6.10 per cent to Dh1.74, followed by Agthia by 5.46 per cent to Dh4.44 and RAK Properties by 4.60 per cent to Dh0.91.
Dana Gas rose 4.17 per cent as the announced that it has received from the Egyptian Government authorities the payment of Dh194 million from the current total outstanding receivables of Dh1,210 million. Including this tranche, during 2013, Dana Gas has received a total of Dh476 million from the Egyptian Government authorities.
National Corp for Tourism and Hotels suffered the worst by 10 per cent to Dh5.85, followed by Green Crescent Insurance Company by 9.40 per cent to Dh1.35 and Sharjah Cement and Industrial Development by 8.47 per cent to Dh1.08.
Of the 36 companies traded, 16 rose, 15 declined and five closed unchanged.
About 628.38 million shares worth Dh956.65 million were traded.
Esharaq was the active value and volume leader.
