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Abu Dhabi / WAM
National banks invested AED200 million ($54.45 million) in local stock markets in April after stock prices reached attractive levels, an increase of 2.2 percent compared to March.
This investment led to an increase in the prices of many stocks, which positively affected general indexes over the past weeks. Attractive stock prices encouraged individuals and traders to benefit from resulting opportunities and make profits.
The renewed investment of banks raised total cumulative balance of investments in stocks to AED9.2 billion at the end of April, compared to AED9 billion in March, according to statistics issued by the central bank of the UAE.
Transactions in financial markets from the beginning of April until the second half of May showed an increase in terms of leading stocks in the Abu Dhabi and Dubai financial markets.
by rates averaging between seven percent and 15 percent.
Shares that generated the most profits during the reporting period were in the real estate and banking sectors, as well as in the telecommunications sector.