Dubai, UAE – Local stock market indices strengthened their rises during trading on Wednesday, for the second day in a row.
Supported by continued strong buying in banking and real estate stocks.
The Abu Dhabi Securities Market index closed up by nearly 2.67% and by about 254.32 points to 9,778.26 points.
While the Dubai Financial Market index jumped, rising by 4.14% and by about 226.81 points to 5697.71 points.
The market value of companies listed on the Abu Dhabi Securities Exchange rose by approximately AED 76 billion to AED 2.955 trillion.
While the market value of companies listed on the Dubai Financial Market gained about 35.79 billion dirhams.
To reach 947.67 billion dirhams, and the total market gains during the day amounted to about 111.86 billion dirhams.
The improvement in market performance coincided with remarkable trading activity, with the total trading value exceeding 3.18 billion dirhams after trading 769.5 million shares during 75,851 transactions.
Dubai Financial Market
The total trading value on the Dubai Financial Market amounted to AED 1.525 billion, after trading in 324.79 million shares.
By executing 32,905 trades. The market witnessed an increase in the shares of 40 companies, while the shares of 11 companies decreased.
Abu Dhabi
The total trading value on the Abu Dhabi Securities Exchange rose to exceed AED 1.66 billion, covering more than 444.71 million shares across 42,946 transactions.
Al Dar shares topped the list of the most active shares in terms of value, with approximately AED 198.5 million.
It was followed by ADNOC Gas shares with a value of 158.68 million dirhams, then Abu Dhabi Commercial Bank with a value of 144.18 million dirhams.
Real estate is driving the rise
Real estate and banking stocks led the list of active rising stocks after Abu Dhabi Commercial Bank shares rose by 7.17% to AED 12.84.
Then “Abu Dhabi Islamic Bank” by 8.52% to 21.9 dirhams.
Then, First Abu Dhabi Bank shares increased by 7.37% to AED 18.06.
Al Dar shares rose by 6% to 8.02 dirhams, and Pure Health shares rose by 7.89% to 2.05 dirhams.
Active stocks, such as «ADNOC Gas», rose by 1.53% to 3.3 dirhams.
