Stock markets in the United Arab Emirates closed in the positive territory this week, with shares on the Dubai bourse hitting a fresh six-year peak amid high trading values on real estate stocks, while selling pressure and profit-taking limited Abu Dhabi’s gains.

The Dubai benchmark stock index, DFMGI, soared 6.85% to 5088.48 points, bolstered by shares in Arabtec and Emaar.

“Arabtec and Emaar served as the main supporter to the market this week in Dubai, in addition to a strong showing for most of blue-chips stocks in the banking sector,” said Nabil Hyder, head of gulf research in Al madina Investment.

The real estate sector index advanced 10.43% on the back of Arabtec gaining of 25% and Emaar 5.36%.

Meanwhile, the banking sector index surged 4.4%, as heavyweight Dubai Islamic Bank climbed 4.3%, and Emirates NBD, the biggest lender in Dubai by market value, jumped 9.89%.

“We could see some profit-taking next week, but the uptrend phase will continue to dominate the market,” Hyder added.

Mazaya was the best performer, gaining 31.3%, while National Industries was the worst, dropping 16.4%.

Arabtec was the most active by value, while Deyyar was the most active by volume, with its share’s price gaining 5.56%.

Turnover hit AED 14.3 billion, while volume stood at 4.56 billion shares.

Elsewhere, shares on the Abu Dhabi bourse came under selling pressure this week, but the benchmark stock index closed in the positive territory.

ADX, the main benchmark stock index, ticked up 0.28%, with investors shifting into profit-taking in the last two sessions, paring most gains achieved at the beginning of this week.

“Banks stocks helped lifting the index this week, while other large-caps in the real estate sector were hit by profit-taking,” said Nedal Khouly, head of gulf research in Nemma Investment.

The banking sector index advanced 0.84%, with heavyweights First Gulf Bank, and National Bank of Abu Dhabi gaining 1.42% and 1.03% in a row.

The real estate sector index shed 0.34%, as Rak Properties dived 11.8%, while shares in Arabtec gained 1.6%, but it couldn’t prop up the sector’s index.

“We could see more gains next week, with profit-taking likely to disappear from the market,” Khouly added.

Turnover hit AED 5.24 billion shares, through the trade of 1.67 billion shares.