DFM: Amlak and Emaar close higher as indices gain modestly
UAE mortgage lender Amlak and real estate developer Emmar both closed higher on Tuesday as leading UAE stock indices reported modest gains.
Amlak recoded huge trading volumes of 65 million shares throughout the course of the day, closing ultimately as Dh7.42, reflecting a rise of 4.8 per cent as compared to the previous day, according to reports in Khaleej Times.
Emaar also recorded impressive trade volumes, and accounted for more than one fourth of overall market volumes, with Emaar shares representing a huge turnover of Dh1.05 billion. The stock closed15 fils up at Dh14.80s by the day’s end. Emaar also saw a ten week high in stock prices when shares hit a14.95 day high.
Aramex and Arabtec also gained, posting an 0.8 per cent and 1.12 per cent rise, respectively. Additionally, Tamweel closed 3.7 per cent up at Dh3.35.
Inthe banking sector, Commercial Bank of Dubai and National Bank of Dubai gained 1.9 per cent and 4 per cent respectively as Emirates Bank closed 5 fils down to Dh14.
The Dubai Financial Market index closed marginally up at 472.9 as national benchmark NBAD General index closed 0.6 per cent up at 12,380.4. Overall, the market saw an impressive turnover of Dh3 billion throughout the course of the day, with the DFM trading 289 million shares worth Dh2.23 billion.
The Abu Dhabi bourse, meanwhile, recorded modest gains for its banking sector shares with the lone exception of Abu Dhabi Commercial Bank which fell somewhat to Dh7.53.