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UAE stocks off to a promising start in April’s opening sessions

Byeditor

Apr 2, 2024

On Monday, the Dubai market index rose by 0.4% to 4263.29 points, driven by real estate shares, while the Abu Dhabi market also saw a 0.18% increase to 9245 points, supported by banking shares. Trading in Dubai focused on 4 real estate stocks including Union Properties, Emaar Properties, Emaar Development, and Deyaar. These stocks accounted for about half of the Dubai market’s liquidity.

In the Abu Dhabi market, shares of First Abu Dhabi Bank, Abu Dhabi Commercial, Abu Dhabi Islamic, and Taqa all saw gains, with the Abu Dhabi market index boosted by the financial, industrial, and utilities sectors. In Dubai, a significant deal was executed on the shares of Emirates NBD Bank, while in Abu Dhabi, three large transactions were executed on the shares of Abu Dhabi National Hotels Company.

The Dubai market index saw a rise in the real estate and industrial sectors, while the financial and utilities sectors experienced a decline. In terms of nationality-based trading, Gulf and foreign investors tended towards buying in Dubai, while Arab investors and citizens moved towards liquidation. Investment portfolios also leaned towards buying in both Dubai and Abu Dhabi.

Overall, the markets in Dubai and Abu Dhabi showed positive movements, with real estate and industrial sectors driving growth and investors showing interest in purchasing shares across different sectors. The liquidity and trading activity in both markets indicate a level of confidence and activity among investors.

By editor

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