Dubai: Property and financial stocks lifted UAE stocks on Wednesday as investors continued to take positions in the two sectors’ companies, which are expected to do well in their first quarter, justifying their recent gains.
The capital’s stock benchmark index climbed 1.23 per cent to end at 5068.28 amid an increase in volume and turnover. The total volume traded was up 457.71 million from Tuesday’s 343.25 million and the value traded was Dh1.14 billion, which rose from 883.23 million.
Shares of 13 increased, 12 decreased and seven remained flat. Rak Properties jumped 7.03 per cent to Dh1.37; Aldar Properties added 2.32 per cent to Dh3.97; and Waha Capital, National Bank of Abu Dhabi and First Gulf Bank advanced 5.37 per cent, 0.89 per cent and 3.57 per cent respectively.
In Dubai, the stock measure, DFM General Index, closed 0.92 per cent higher to finish at 4786.32. Here, unlike its counterpart in Abu Dhabi, volume and turnover slipped. The total volume traded fell to 624.69 million shares from the previous session’s 892.12 million and the turnover was Dh1.95 billion, again a drop from Dh2.48 billion a day earlier.
Among property stocks, Emaar Properties, Union Properties, Deyaar Development and construction stock Arabtec gained 0.50 per cent, 2.61 per cent, 0.63 per cent and 3.90 per cent respectively.
Dubai Investments, Dubai Financial Market, Emirates NBD and Shuaa Capital were the other gainers, adding 2.02 per cent, 3.13 per cent, 1.04 per cent and 1.68 per cent.
