Traders at Dubai Financial Market (DFM)
Traders at Dubai Financial Market (DFM). Image Credit: Virendra Saklani/Gulf News Archives

Dubai: Abu Dhabi’s main stocks index was up 8.4 per cent on Thursday, driven by gains at some of the powerhouse banking and property stocks. First Abu Dhabi Bank’s share prices climbed 14.9 per cent and Etisalat gained 6.9 per cent. Abu Dhabi Commercial Bank rose 14.4 per cent while Aldar Properties went up 7.1 per cent.

The Abu Dhabi Securities Exchange (ADX) ended 8.4 per cent higher, at 3,685. The general index rose a day earlier after the bourse said it will amend the limit down on share prices to 5 per cent from 10 per cent amid volatility due to the coronavirus outbreak.

In Dubai, the main equity index closed 2.85 per cent higher on Thursday, at 1,819, with many stocks in the green. Emaar jumped by 12 per cent as Union Properties gained 14.6 per cent and Deyaar rose by 8.8 per cent.

The gains in the UAE come even as international markets continue to plummet.