The positive outlook in the real estate, banking, and telecom sectors as well as capital inflows from both institutions and individuals led to gains in the market value of the UAE financial markets of over AED8.3 billion on Friday.
Realty and banking blue chips accounted for the lion’s share of transactions that amounted to more than 14,700 worth around AED1.67 billion over 353.7 million shares.
Dubai General Index (DFMGI) advanced 0.007 percent to 3,462.890 pts as blue-chip developer Emaar properties continued to hike, closing higher at AED6.100 after drawing AED155.9 million in cash flows.
Among other stocks, Emirates NBD, Dubai Islamic Bank, and TECOM increased 1.84 percent, 0.84 percent and 0.41 percent respectively.
Abu Dhabi index (FTFADGI) rose 0.133 percent to 10,035.060 pts, with conglomerate International Holding Company (IHC.AD), traded as ASMAK, closing slightly down at AED341.00, after AED312 million of liquidity and NBAD edging higher to AED20.200.
Abu Dhabi Islamic Bank increased by 1.32 percent to AED9.200 and ADNOC Distribution increased by AED4.690, among other equities.
