DUBAI: Dubai stock market closed higher on Wednesday, outperforming the Gulf region, while Qatari stocks retreated amid volatile energy prices.
Dubai’s benchmark index snapped its losing streak since Friday, climbing 1.4% and marking its best day since September. The index was lifted by gains in almost all constituent stocks.
Emirates NBD, Dubai’s biggest lender, rose 2.3% and toll operator Salik gained 2.4%.
Dubai Financial Market Co, the operator of Dubai stock exchange, rose 3.6% after it reported a 41.7% surge in FY net profit.
Mashreq Bank added 3%, after the lender proposed annual cash dividend of AED 9 per share, up 800% from last year.
In Abu Dhabi, the index ended 0.3% higher, extending its rally into the third consecutive session, helped by a 1.5% gain in the country’s biggest lender First Abu Dhabi Bank.
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