DUBAI: Stock markets in United Arab Emirates closed higher on Tuesday, as they reopened after Eid holidays, with Abu Dhabi index snapping losses in straight seven sessions.
Dubai’s benchmark index rose 0.6%, buoyed by a 1.5% jump in sharia lender Dubai Islamic Bank and a 1.2% gain in Blue-chip developer Emaar Properties.
In Abu Dhabi, the index closed 0.1% higher, supported by a 0.8% increase in the United Arab Emirates’ biggest lender First Abu Dhabi Bank and 1.1% rise in investment firm Multiply Group.
Amongh other stocks, Aldar Properties jumped 1.8% after the company announced sale of three apartment buildings at Grove District for 600 million dirhams ($163.36 million).
The Abu Dhabi stock market reversed course after two weeks of decreases, thanks to the holidays that acted as a circuit breaker. The market could follow Dubai, making gains this week, despite the downside risks, said Daniel Takieddine, CEO MENA BDSwiss.
ABU DHABI up 0.1% to 9,171 points
DUBAI rose 0.6% to 3,129 points.
Comments
Comments are closed for this article.