UAE stocks gain Dh8.3b, driven by realty, banking, telecom

Abu Dhabi: The UAE financial markets on Friday posted gains of Dh8.3 billion, driven by gains in the realty, banking and telecom sectors and cash inflows by both institutions and individuals.

Realty and banking blue chips accounted for the lion’s share of transactions worth Dh1.67 billion over 353.7 million shares.

Dubai General Index (DFMGI) advanced 0.007 per cent to 3,462.890 points as developer Emaar properties continued to rise, closing at Dh6.100 after drawing Dh155.9 million in cash flows.

Among other stocks, Emirates NBD, Dubai Islamic Bank, and TECOM increased 1.84 per cent, 0.84 per cent and 0.41 per cent respectively.

Abu Dhabi index (FTFADGI) rose 0.133 per cent to 10,035.060 points, with conglomerate International Holding Company (IHC.AD), traded as ASMAK, closing slightly down at Dh341.00, and NBAD edging higher to Dh20.200.

Among other stocks, Abu Dhabi Islamic Bank rose 1.32 per cent to Dh9.200 and ADNOC Distribution moved higher to Dh4.690.