Dubai: The Dubai Financial Market (DFM) index rose marginally on Monday in line with European markets that speculated that China would announce new measures to stimulate its slowing economy.

The volume of trade on the market, however, remained lacklustre with less than Dh64 million of shares traded. Analysts say the market has lacked domestic catalysts in recent weeks and has been taking its broad direction from the international market movements.

Market participants are also eyeing the US Federal Reserve to announce new monetary policy measures later this month to boost a slowing local economy, which would support riskier assets such as stocks.

The DFM index closed at 1,547.66, up 0.13 per cent. Around 55.52 million shares, cumulatively worth about Dh63.05 million were traded on the stock market.

Over 7.08 million shares of real estate major Emaar, cumulatively valued at around Dh23.32 million were traded on the market on Monday, its stock closing 0.3 per cent higher at Dh3.29 on value buying by investors.

Of the 26 company stocks traded on Monday, 10 rose, while 9 fell and 7 closed unchanged. The day’s top gainer was Ajman Bank, its stock rising 6.25 per cent to close at Dh0.850. Takaful-EM was the day’s main loser, its shares fell 9.93 per cent to close at Dh0.626. The shares of Emaar were the most traded by value while Gulf Finance House’s shares were the most traded in terms of volume.

Abu Dhabi

The Abu Dhabi Securities Exchange (ADX) general index fell fractionally on Monday led by fall in banking and real estate stocks amid lack of catalysts and low investor interest.

The volume of trade on the market remained low due to a lack of liquidity. Analysts say a rebound in global risk appetite and increase in international oil prices, however, lends support to investors’ confidence in the market in the medium term.

The ADX general index closed Monday at 2,556.82, down 0.01 per cent. Around 24.81 million shares, cumulatively worth about Dh59.37 million were traded on the Abu Dhabi stock market on Monday, which was lower than the trade on Sunday. Of the 23 company stocks traded, only 7 advanced, while 8 declined and 8 closed unchanged.

The stock of Abu Dhabi’s real estate major Aldar Properties closed 0.83 per cent lower at Dh1.20. Sorouh Real Estate’s shares also fell, closing 0.91 per cent lower at Dh1.08. About7.85 million shares of Aldar, cumulatively worth about Dh6.58 million changed hands on the market.

The top gainer on the Abu Dhabi market Monday was Invest Bank, its shares closing 9.26 per cent higher at Dh1.78. Ras Al Khaimah Cement Company was the day’s top loser, its stock closing 1.45 per cent lower at Dh0.68. The shares of regional telecommunications major etisalat were the most traded in terms of value while Aldar’s shares were the most traded by volume.