The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / WAM
Blue-chips again gave a last-minute boost to the UAE stocks on Wednesday, with Emaar breaking a new high of AED8.49 despite a profit-booking spree during the first half of today’session.
Accordingly, decent gains were held by the Abu Dhabi Securities Exchange General Index which was up 1.02 percent, closing at 4608 points, with the Dubai Financial Market General Index following suit, closing high 0.32% at 3660 points.
The biggest boost at ADX was provided by First Abu Dhabi Bank which spiralled to AED10.90 in addition to Etisalat which flew high to AED18.65. The positive performance of Eshraq Properties which climbed to 92 fils contributed as well to keeping boards in the green.
Market analysts observed that the current high sentiments are driven by leading shares, primarily Emaar, rather than by stock speculations in the build-up toward announcing H1 financial statements. In terms of liquidity and volume of trades, a total of 5309 transactions were conducted at both main bourses worth AED460 million over 292 million shares, against AED520 million on the previous day.