Rise in Real Estate and Banking Shares Drives Growth in Dubai and Abu Dhabi Markets

UAE stocks off to a promising start in April’s opening sessions

On Monday, the Dubai market index experienced a 0.4% increase to 4263.29 points, driven by real estate shares. Meanwhile, the Abu Dhabi market saw a 0.18% rise to 9245 points, supported by banking shares. In Dubai, trading focused on four real estate stocks: Union Properties, Emaar Properties, Emaar Development, and Deyaar. These stocks accounted for about half of the liquidity of the Dubai market.

In the Abu Dhabi market, shares of First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, and Taqa all saw gains. The financial, industrial, and utilities sectors contributed to the growth of the Abu Dhabi market index. A significant deal was executed in Dubai on the shares of Emirates NBD Bank, while in Abu Dhabi three large transactions were carried out on the shares of Abu Dhabi National Hotels Company.

In terms of nationality-based trading activity in both markets showed positive movements with Gulf and foreign investors tending towards buying in Dubai while Arab investors and citizens moved towards liquidation in both markets respectively. Investment portfolios also leaned towards buying across different sectors in both markets indicating confidence among investors

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