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Abu Dhabi / WAM
UAE stock markets are back in the green on Wednesday after profit-booking over the past two days, amidst upbeat sentiments comparatively with the past few days. The marked improvement came after shares plummeted to mouthwatering levels, spurring a buying spree by institutions and individuals alike who mostly targeted banking and real estate equities.
ADX General Index grew 0.59%, hitting 4497 points, with DFM General Index following suit by 0.27%, closing at 3589 points. Emaar edged up by 8 fils, hitting AED8.34, followed by Arabtec which grew to AED3.31, a growth of 2.5% over its last traded price, with Union Properties rising to 83 fils. At ADX, Taqa spiked to 60 fils, with Union National Bank closing on a high note of AED4.41 following transactions worth AED106 million. According to market analysts and brokers, the beaten-out shares, including blue chips, were the incentive behind the growing transactions witnessed on Wednesday following the state of indifference toward the H1 profits announced recently.