UAE stock markets reverse early losses

Dubai: The UAE equity markets reversed early losses on Thursday, even as crude, which fell more than 2 per cent in the previous session, capped gains.

The Dubai Financial Market General Index went up by 1.46% at 3,888.39 after falling as much as 1 per cent as much as 3,785.92, while ADX index also up 1.19% at 4,536.55 at the close of trading.

Saudi’s Tadawul index was up 1.19% at 8,802.91.

Brent oil lost 2.4 percent to $60.24 a barrel in London after crude inventories in the US increased the most in two months.

Meanwhile, the Securities and Commodities Authority (SCA) has said that short-selling of securities are not allowed and added that violators will be liable for legal action.