Emaar shares boost DFM
Shares of UAE real estate leader Emaar Properties closed slightly higher on emirate indices, driving them up somewhat by the end of the day. Other key service share such as Shuaa and Etisalat also closed higher.
Emaar closed 30 fils up, reaching Dh12.75, while the counter traded more than 47 million shares of Emaar, valued at around worth Dh602 million, according to Khaleej Times.
Dubai's Financial Market index closed 4.4 points, reflecting a rise of 1 per cent, up at 433. The Abu Dhabi index on the other hand gained 0.5 per cent, up at 3493.9, while the national benchmark NBAD General index closed 1 per cent up at 11,506.2. Telecom major Etisalat also gained during the day, rising 3 per cent to close at Dh18.90.
Between the two bourses the market traded more than 110 million shares, worth Dh932 million in total. The Dubai Financial market accounted for more than 90 per cent of the traded volumes and turnover. With 5,843 trades reported, the DFM traded 95.2 million shares worth D847.2 million. The Public Warehousing Company, meanwhile, came under heavy selling pressure yesterday, closing 5.8 per cent down at Dh22.45.
In the banking sector, the National Bank of Dubai also closed 2.7 per cent down reaching Dh10.80, while the Dubai Islamic Bank gained 1.3 per cent to Dh10.10.