• Tue. Apr 23rd, 2024

Dubai and Abu Dhabi Markets Gain Ground with Real Estate Leading the Charge

BySamantha Nguyen

Apr 3, 2024
The UAE stock market sees green as liquidity hits 1.47 billion dirhams.

On Tuesday, UAE stocks experienced gains, with real estate companies in Dubai and banks in Abu Dhabi leading the way. While most leading stocks remained stable, some companies saw partial profits. The Dubai market index rose by 0.14% to 4269.4 points, while the Abu Dhabi market index went up by 0.08% to 9252.61 points. Foreign (non-Arab) investors contributed a net investment of 126 million dirhams, with 94.7 million dirhams in Dubai and 31.1 million dirhams in Abu Dhabi.

In Dubai, shares of “Emaar Properties” and “Emaar Development” continued to rise, while “Union Properties” experienced a slight decline. In Abu Dhabi, bank shares like “First Abu Dhabi” and “Abu Dhabi Commercial” supported the market index.

Liquidity in the markets totaled 1.47 billion dirhams, with 988 million dirhams in Abu Dhabi and 483.7 million dirhams in Dubai. Trading saw 526 million shares exchanged, with 281.3 million shares in Dubai and 244.7 million shares in Abu Dhabi.

The financial sector was a major driver of growth in the Abu Dhabi market index, with increases seen in sectoral indices for financial companies such as “Investcorp” and “Multiplay”. However, communications sector companies like “Etisalat E&” and “Yahsat” also experienced growth.

In terms of energy stocks, companies like “Dana Gas” and “ADNOC Distribution” declined due to falls in their share prices.

Real estate sector stocks showed mixed movements on both markets: while some companies like “Emaar Properties” and “Emaar Development” rose on the Dubai market index; others like “Union Properties” declined on this specific sector.

The health care sector also showed mixed movements on both markets: some stocks were stable while others were affected negatively or positively by their share prices.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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