Business | Markets
UAE stocks continue rally
UAE markets yesterday rallied for the third consecutive session, to accumulate more than Dh25 billion in capital gains.
- By Ahmed A. Elewa, Senior Reporter
- Published: 00:44 April 4, 2008
Abu Dhabi: UAE markets yesterday rallied for the third consecutive session, to accumulate more than Dh25 billion in capital gains.
The Emirates Securities general Index advanced 0.7 per cent to 5,884.50, lifting market capitalisation of listed shares to Dh818.8 billion.
In Dubai, the general index advanced marginally by 0.14 per cent to 5,465.70.
Emaar Properties ended the session unchanged at Dh11.35, but Deyaar fell 1.64 to Dh2.40. The banking sector ended the session almost unchanged, but Emirates NBD dropped 2.23 per cent to Dh10.95.
In Abu Dhabi, the general index advanced 1.4 per cent to close at 4,759 on strong gains recorded by Sorouh Real Estate, which surged 2.75 per cent to Dh9.26, and Aldar Properties, which rose 2.86 per cent to Dh10.85.
National Bank of Abu Dhabi and etisalat advancing 1.03 and 1.71 per cent to Dh19.75 and Dh20.85 respectively.
Most analysts agree that foreigners control about 30 to 40 per cent of the value of traded shares.
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