UAE listed firms post market cap gains of $16.6bn
ABU DHABI, March 25, 2020
The UAE financial markets continued their rebound for the second straight day, with listed companies posting Dh61 billion ($16.6 billion) combined gains in market cap mainly driven by the stimulus packages.
Driven by country-level economic incentives and stimulus packages, the UAE financial markets continued their rebound for the second straight day, with listed companies posting combined gains of Dh61 billion in market cap in the two sessions of Tuesday and Wednesday.
Abu Dhabi’s main stocks index was up 7.23 per cent to 3,915 points today, driven by gains at some of the blue chips, specially powerhouse banking stocks, with DFM's General Index following suit, and closing 6.42 percent high at 1,823.
In Abu Dhabi, Etisalat was the best performer, climbing to Dh14, with FAB closing high at Dh10.30, followed by ADCB, Dh5.65, and Aldar Properties at Dh1.7.
In Dubai Financial Market, Dubai Islamic Bank edged up to Dh3.92, with Emaar picking up to Dh2.32 and Emirates NBD to Dh7.38.
A total of 9,429 deals were conducted worth Dh566 million over 466 million shares.-TradeArabia News Service
