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ABU DHABI / WAM
UAE stocks locked in a strong uptrend in the maiden session of the week supported by most of the listed sectors,
primarily the realty and banking companies, with the DFM General Index rising to 3151 points, an increase of 1.83 percent over the last session, and ADX General Index following suit by 1 percent over Thursday’s session to 4699 points.
The bullish trend of Sunday was a direct translation of the package of economic growth incentives launched by the Emirate of Dubai to streamline business and boost economic performance across the country in general and in Dubai in particular. Within this context, Emaar hit a new high of AED5.98 followed by other property companies,
including Emaar Development which spiked to AED5.45, Emaar Malls to AED2.17 and Arabtec to AED 2.20. At the banking sector, Emirates NBD closed on a high note of AED10.35, followed by Dubai Islamic Bank at AED6.52.