UAE indices gain, Dubai’s DFM gains for sixth straight session
Financial benchmark tick higher after Emirates NBD Bank, DIB rises 1%
Dubai: The main index on the Dubai bourse gained for a sixth straight session on Tuesday, helped by top lenders Emirates NBD and Dubai Islamic Bank (DIB) and real estate giant Emaar Properties.
The DFM index closed 0.8 per cent up at 2,758 points, while Abu Dhabi’s ADX ended 0.4 per cent higher at 5,058 points.
The lending benchmark in Dubai edged 0.6 per cent higher after Emirates NBD Bank rose 1.2 per cent and Dubai Islamic Bank was up 0.7 per cent. Real estate heavyweight Emaar gained 1.2 per cent, triggering gains in property peers.
The Abu Dhabi index inched up after telecom giant Etisalat gained 0.4 per cent and Abu Dhabi National Oil Company for Distribution (ADNOC) rose 3.5 per cent.
Saudi Arabia’s main index was flat, with Riyad Bank shedding 3 per cent after the lender decided to end merger talks with National Commercial Bank. NCB was up 0.3 per cent.
Saudi Aramco closed down 0.6 per cent, dropping for the first time after rising for four straight days since it listed. The state-owned oil giant joined MSCI on Tuesday.