UAE stocks rise modestly as real estate posts gains

Abu Dhabi: The UAE markets recorded modest gains on Sunday. The Emirates Securities general index advanced 0.25 per cent to 6,041.74.

The real estate sector recorded moderate gains, with Sorouh Real Estate maintaining historic high price levels and advancing 0.83 per cent to Dh9.73, while Aldar Properties gained 0.88 per cent to close at Dh11.45.

In Dubai, the benchmark index advanced 0.29 per cent to 5,752.35 on account of solid gains reported by Dubai Financial Market (DFM) which advanced 1.02 per cent to Dh5.96, and Arabtec which surged 5.29 per cent to Dh11.95.

Emaar Properties retreated marginally by 0.44 per cent to Dh11.35, as well as Dubai Islamic Bank, which dropped 0.42 per cent to Dh11.85.

In Abu Dhabi, the general index advanced 0.24 per cent 4,785.00, on relatively high trading values of more than Dh1.6 billion.

Arkan Building Material maintained its position as the most traded share in terms of value on account of strong rumours that the company will be opening up for foreign investors and its relatively low share price.