Emaar, Amlak turnaround lifts UAE bourses
UAE mortgage giant, Amlak, was the most traded company in both volume and value on Monday with 99.5 million shares traded for Dh805.9 million. Shares of Emaar also closed up on Monday, recording a 2.1 percent rise brining closing value to Dh12.20 and ranking second in volume and value ranks. Transactions of 57.3 million shares worth Dh698.6 million were also registered.
The uplift resulted in UAE markets recording advances, according to Gulf News, with the Dubai benchmark index closing 1.84 percent higher than its previous closing at 478.47 points, with a total market turn-over of 1.69 billion shares.
Abu Dhabi's benchmark index also advanced, closing at 3465.06 points, reflecting a 1.21 percent increase. The hotels and banking sectors recorded gains of 2.41 and 2.29 percent for the respective sub-indices.