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Markets Print edition: 2024-03-30

Banks and industrial stocks lift Dubai, Abu Dhabi falls

Published March 30, 2024 Updated March 30, 2024 04:58am
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By Reuters
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DUBAI: Dubai’s main share index closed higher on Friday, boosted by gains in banking and industrial sector stocks while the Abu Dhabi index declined on the day.

The Dubai index gained 4.6% in the first quarter of 2024 after suffering losses in the quarter ending December 2023, according to LSEG data, supported by strong corporate earnings and rising real estate prices in the Emirate.

Dubai’s main index rose 0.3% on Friday, lifted by a 1.2% rise in top lender Emirates NBD Bank and a 4.2% hike in Mashreq Bank.

Among the gainers, school operator Taaleem Holdings gained 1.4% after the firm reported a 47% growth in second quarter net profit to 101.2 million dirhams ($27.56 million).

uae banks Abu Dhabi index Dubai main share index

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