UAE stocks gain Dh9.6 billion in two successive sessions

By Rajive Singh

ABU DHABI 12 December 2017: The UAE stocks Monday continued their winning streak for the second day running, gaining a total of Dh7.6 billion, bringing to Dh9.6 billion the total profits in two successive sessions.

The Abu Dhabi Securities Exchange General Index closed on a high mote of 4356 points, an increase of 1.43 over the last session, with the Dubai Financial Market following suit, closing up 0.55 percent to 3414 points.

Property companies were the main growth driver, with Emaar flying high to Dh7.70, followed by Emaar Development which closed up 2.6 percent at Dh2.49. Arabtec reflected the same upbeat sentiments, closing on a spike at Dh2.45, with Mashreq Bank reinforcing gains after rising high to Dh69, Dubai Commercial Bank to Dh4.15 and Dubai Islamic Bank securing decent gains after closing high at Dh6.04.

For the first time in several months, Etisalat broke the Dh17 mark, closing at Dh17.10, with NBAD rising to Dh10.25. The ADX-listed Al Qudra Holding witnessed growing transactions, sending its share high to Dh1.21.

In terms of liquidity and trading volume, 27 out of 66 companies closed in the green, with 20 firms down an 19 at their last traded prices.