Abu Dhabi: The Dubai Financial Market (DFM) index gained 0.55 per cent on Tuesday to reach 4,852.06 with the total trade value almost doubling over that of Monday as it reached Dh813.3 million.

However, values in Abu Dhabi were relatively low with a total of Dh270 million, as the Abu Dhabi Securities Exchange (ADX) general index crawled up 0.04 per cent to reach 5,053.40.

Dubai powerhouses were mostly in the green, registering increased trade values as well, with Arabtec’s total trade value reaching Dh222.6 million — up from Dh111.3 million on Monday. The construction giant saw share prices gain 0.47 per cent to reach Dh4.25.

Emaar also rose 1.48 per cent, Union Properties went up 1.41 per cent, Dubai Investment Co. climbed 2.24 per cent, and the DFM share price increased 1.5 per cent. Dubai Islamic Bank remained flat, however.

In the capital, Methaq Takaful Insurance Co topped the gainers’ list with a 5.56 per cent change, followed by Sudan Telecommunication Company (Sudatel) with 4.81 per cent, Aldar Properties with 3.47 per cent, and United Arab Bank with 2.94 per cent.

Saleem Khokhar, head of equities at the National Bank of Abu Dhabi’s asset management group, commented on market performance saying, “There’s isn’t too much going on even the Saudi market is quite flat. I guess we’re in the summer doldrums and a lot of people are away. I would expect early September when most people are back from holiday that the market would be back to normal activity.”

As for the outlook, he said it was positive, with good fundamentals underlying the market, and overall positive financial results for the second quarter of this year.

“I think the risk is geopolitical, and by that I mean what is happening in the Middle East region in Iraq, and Palestine, as well as Ukraine. It could cause an indirect impact, but when we are in a quiet period as we are now, you will see that external forces could drive the market, but again not directly,” Khokhar said.

Of the 30 stocks traded on DFM, 18 went up, seven went down, and five remained unchanged. Of the 29 stocks traded on ADX, 16 advanced, 10 declined, and three remained flat.