UAE stocks rebound, gaining AED2.8 bn

ABU DHABI, UAE stocks rebounded Monday and closed in green driven by rallying blue chips in the property and banking sectors, securing around AED 2.8 billion in gains by the end of Monday’s session.

The bullish sentiments reflected positively on the country’s two main bourses, with the Dubai Financial Market closing up 0.53 pct at 2,749 points and ADX at 5,082 points, up 0.39 pct from yesterday’s session.

Arabtec was among the best performers, closing high at 85 fils, with Union Properties edging up to 0.226 fils. Emaar maintained its upward streak rising to AED3.89 and Dubai Islamic Bank to AED5.72.

The ADX- listed FAB picked up to AED14.98 followed by ADCB at AED7.64. Etisalat ended the session high at AED16.1 and Aldar Properties at AED2.23.

In terms of liquidity, a total of 4802 transactions were concluded worth AED455 million over 304 million shares.

Source: Emirates News Agency