Monday , February 19 2018

UAE stocks gain AED6.3bn in weekend trading



The UAE financial markets closed with a profitability in weekend trading with heavy stocks, which strengthened their gains for the second straight session, amid continued buying by some corporations. The market value share gains traded by companies amounted to AED6.3
billion, according to official figures released after the close of trading.
The general index of the Dubai Financial Market rose by 1.22 percent at 3,521 points, while the Abu Dhabi Securities Market general index closed at 4,424 points, a growth of 1.13 percent, compared with the previous day. The value of deals over the past five sessions in the markets touched AED4.5 billion, and the number of shares traded was 2.5 billion through 32,500 transactions.
Brokers at the market said that transactions during the week were generally quiet amid caution from the largest segment of traders, especially small investors. They said the selective buying operations on some stocks were still the main feature of trading in the markets for last five sessions, particularly, after the end of the corporate disclosure season of financial statements, and distribution of dividends to shareholders.

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