Business | Markets
UAE shares gain Dh5.2b in market capitalisation
UAE markets started the week on a positive note adding Dh5.2 billion in capital gains after raking in Dh16.1 billion last week, taking the total value of listed companies up to Dh823.99 billion.
- By Ahmed A. Elewa, Senior Reporter
- Published: 00:05 April 7, 2008
Abu Dhabi: UAE markets started the week on a positive note adding Dh5.2 billion in capital gains after raking in Dh16.1 billion last week, taking the total value of listed companies up to Dh823.99 billion.
The Emirates Securities general index advanced 0.63 per cent to 5,921.74 to minimise the losses recorded since the beginning of the year to less than 1.6 per cent.
Positive investor sentiment in Dubai drove the general index up 0.92 per cent to 5,516.13 in relatively heavy trading worth Dh1.36 billion of transactions.
Emaar's agreement with DP World in relation to the development of King Abdullah Economic City in Saudi Arabia had a positive impact on the developer, lifting it up 0.44 per cent to Dh11.40.
Its financial arm, Amlak Finance, shot up almost three per cent to Dh4.53. Dubai Investment rose 2.92 per cent to Dh4.23.
All the sectors ended the session in positive territory with the exception of the utilities sub-index which retreated marginally by 0.37 per cent.
In Abu Dhabi, real estate companies dominated the market as the three listed developers accounted for heavy trading. The general index rose 0.29 per cent to 4,772.96.
More than Dh492 million worth of real estate shares changed hands in the market's total value of transactions worth Dh991.5 million.
Ras Al Khaimah Properties continued its impressive advance gaining 5.36 per cent to close at Dh2.43.
Aldar Properties added 1.85 per cent to its value to close at the Dh11 mark, while Sorouh real estate retreated marginally by 0.21 per cent to Dh9.13.
Overall, the real estate sub-index reported the strongest gains and advanced by 1.24 per cent.
The energy sector was also among the best performers, especially Aabar Petroleum, which gained 2.08 per cent to close at Dh3.40.
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