UAE stocks gain AED8.3 bn Friday

Sharjah24 - WAM: The UAE financial markets gained roughly AED8.3 billion in market cap on Friday, owing to positive sentiments in the real estate, banking, and telecom sectors, as well as cash inflows from institutions and individuals.

The majority of the transactions, which reached over 14,700 and were valued over AED1.67 billion across 353.7 million shares, were in real estate and banking blue chips.

The Dubai General Index (DFMGI) increased 0.007 percent to 3,462.890 points as blue-chip developer Emaar Properties extended its advances, ending at AED6.100 after producing cash flows of AED155.9 million.

Emirates NBD, Dubai Islamic Bank, and TECOM, among others, rose 1.84 percent, 0.84 percent, and 0.41 percent, respectively.

The Abu Dhabi index (FTFADGI) increased 0.133 percent to 10,035.060 points, with conglomerate International Holding Company (IHC.AD), trading as ASMAK, finishing marginally down at AED341.00 after a liquidity injection of AED312 million, and NBAD climbing to AED20.200.

Abu Dhabi Islamic Bank climbed 1.32 percent to AED9.200, while ADNOC Distribution increased to AED4.690.