Dubai: Trading in the UAE market was cornered by select stocks, even as the indices traded in a tight range. Saudi’s Tadawul index surged the most in the region.

Total traded volumes rose to Dh353 million from Dh250 million in the previous sessions with active trading seen in shares like Emaar Properties, Shuaa Capital, Deyaar Properties among others.

“Traders were seen buying Shuaa Capital at lower levels. Stocks which attracted buying were Emaar, Shuaa Capital, Deyaar and Dubai International,” Shiv Prakash, senior analyst at National Bank of Abu Dhabi Securities, said.

Shuaa Capital closed more than 3 per cent higher at Dh0.66, while Emaar Properties closed 0.87 per cent higher at Dh6.96. Deyaar and Dubai Investments shares were also active. Deyaar closed 1.66 per cent higher at Dh0.614. Dubai Investments also rose 1.42 per cent to end at Dh2.14. Arabtec closed 0.66 per cent higher at Dh1.53.

Emaar is poised to target its previous high at Dh7.08 and then test Dh7.25 in the short term provided the volumes keep up pace.

Traders were seen active on Shuaa from lower support zone. “Higher volumes hint a bullish breakout and the stock may target Dh0.70/0.73 in the coming sessions,” Prakash said.

Among other stocks, Dubai Parks and Resorts eased from its near-record levels. Dubai Parks and Resorts closed 0.57 per cent lower at Dh1.75. Amlak Finance closed less than a per cent lower at Dh1.41.

Out of a total of 34 stocks traded on the exchange, shares of 19 firms rose, while other 12 firms fell.

The Dubai Financial Market General Index closed at 3,521.89, up 0.31 per cent. In Abu Dhabi, some shares witnessed selling pressure.

First Gulf Bank is seen trading sideways in between Dh12.15 and Dh11.65, Prakash said. First Gulf Bank closed 1 per cent lower at Dh11.85.

“Aldar’s near term trend still remains bullish. Only a close below Dh2.73 shall be considered bearish,” said Parakash.

Aldar Properties closed 0.71 per cent lower at Dh2.81. Taqa shares ended 3.7 per cent higher at Dh0.56. Out of a total of 28 firms traded on the exchange, shares of 10 firms rose and fell.

Elsewhere in the Gulf, Saudi Arabia’a Tadawul index closed 1.07 per cent higher at 6,382.51.

“Saudi market turned up taking support at 6,230. Traders may look to buy select outperformers using the recent low,” said Prakash.

Saudi Basic Industries, which ended at 3.23 per cent higher at 84 Saudi riyals, shall target 90 Saudi riyals in the short term, Prakash added.

Qatar exchange index closed 0.02 per cent lower at 10,918, while Muscat Securities MSM 30 index closed 0.17 per cent higher at 5,896.97. “After Qatar index broke over the critical resistance at 10,500, the index may head higher towards the 11,200 mark in the medium term,” he added.