Traded value in Dubai tumbled on Sunday ahead of a weeklong holiday even as Emaar Properties lent support to the index.
Traded value fell to Dh39 million on Sunday compared to more than Dh100 million last week. The Dubai Financial Market general index closed 0.44 per cent higher to 2,815.79.
Emaar Properties closed 0.80 per cent higher to Dh5.05. Emirates NBD closed 2.25 per cent higher to Dh9.1.
“We begin to see higher levels of activity on the real estate sector which was suppressed over the past few weeks, which could potentially signal the rebound of the sector as investors being to take on positions in the now attractive stocks,” Issam Kassabieh, senior analyst with Menacorp said.
Dubai Islamic Bank closed 0.20 per cent higher to Dh5.01.
In other stocks, Gulf Finance House closed 0.71 per cent higher to Dh1.41. Salama Insurance closed 1.45 per cent higher to Dh0.420. Deyaar Properties closed 0.73 per cent higher to Dh0.413.
The Abu Dhabi Securities Exchange general index closed 0.45 per cent lower to 4,884.92.
Agthia closed 5.24 per cent lower to Dh4.7. Eshraq Properties closed 1.67 per cent lower to Dh0.59. First Abu Dhabi Bank closed 0.7 per cent lower to Dh14.5. Dana Gas closed flat Dh1.13.
“Dana released positive first half financials and thus only consolidated investor investment towards the future prospects of the company,” Kassabieh said.
Elsewhere in the Gulf, Qatar exchange index closed 1 per cent lower to 9,447.88.
Rest of the markets in Saudi Arabia, Kuwait, Oman, and Bahrain were shut for Eid Al Adha holidays. Trading will resume next Sunday.
On Thursday, the Tadawul index closed 0.02 per cent higher to 7,867.16.
The Kuwait all share index closed 0.05 per cent higher to 5,208.54. The Muscat MSM 30 index closed 0.02 per cent higher to 4,390.45.
The Bahrain all share index closed at 1,347.98, up 0.04 per cent.