• Thu. Apr 25th, 2024

Market Momentum in Dubai and Abu Dhabi as Real Estate and Finance Lead the Way

BySamantha Nguyen

Apr 2, 2024
Positive beginning for UAE stocks in early April trading

On Monday, the Dubai market index rose 0.4% to reach 4263.29 points, with real estate shares leading the way. The Abu Dhabi market also saw a 0.18% increase to 9245 points, driven by strong performance from banking shares. In Dubai, four real estate stocks, including Union Properties, Emaar Properties, Emaar Development, and Deyaar, accounted for approximately half of the market’s liquidity.

Trading in Dubai was focused on these real estate stocks, while Abu Dhabi saw gains in the financial sector and a rebound in Taqa shares after a previous decline. In both markets, substantial trading activity occurred, including large deals on Emirates NBD Bank shares in Dubai and three transactions on Abu Dhabi National Hotels Company shares in Abu Dhabi.

The rise of the Abu Dhabi market was supported by gains in the financial and industrial sectors. In contrast, the Dubai market index saw increases in real estate and industrial sectors despite declines in finance and utilities sectors. Despite this decline, overall market performance remained positive due to investor interest and trading activity remaining robust across various sectors.

Investors from different nationalities showed interest in both markets, with varying buying and selling trends observed. Liquidity was led by International Holding and Alpha Dhabi in Abu Dhabi while trading focused on Union Properties and Emaar Properties in Dubai. The markets showed positive momentum as sectoral indices and individual stock performances impacted market movements.

Overall, both the Dubai and Abu Dhabi markets experienced positive growth despite some fluctuations due to investor interest and robust trading activity across various sectors.

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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