Arabtec sent Dubai Financial Market General Index (DFMGI) up to its highest level in 6 years since August 2008.
DFMGI gained 2.31% to 5134.95 pts. Nedal Kholi, an expert, real estate developers represented the key driver of the market hike, reflecting the investor’s confidence in the companies’ dividend payment.
Arabtec closed 10.67% higher, while Emaar gained 1.86% on strong financials. Kholi expected the market to see cash-ins during tomorrow’s session.
Banks closed 1.67% up, as Emirates NBD ended 4.76% higher, while Dubai Islamic Bank rose 0.73%.
A total of 1 billion shares changed hands, at a total value of AED 377 billion. Abu Dhabi’s Index (ADI) went up 0.43% at 5211.89 pts.
Waleed Al Shehabi, an expert at Shuaa Capital, stated that FGB shares represented the key driver of the market rise in Abu Dhabi amid cash-ins on real estate stocks.
Aldar Properties fell 2.97%, while Etisalat remained unchanged. A total of 248.56 million shares changed hands at a total value of AED 985.79 million.
DFMGI gained 2.31% to 5134.95 pts. Nedal Kholi, an expert, real estate developers represented the key driver of the market hike, reflecting the investor’s confidence in the companies’ dividend payment.
Arabtec closed 10.67% higher, while Emaar gained 1.86% on strong financials. Kholi expected the market to see cash-ins during tomorrow’s session.
Banks closed 1.67% up, as Emirates NBD ended 4.76% higher, while Dubai Islamic Bank rose 0.73%.
A total of 1 billion shares changed hands, at a total value of AED 377 billion. Abu Dhabi’s Index (ADI) went up 0.43% at 5211.89 pts.
Waleed Al Shehabi, an expert at Shuaa Capital, stated that FGB shares represented the key driver of the market rise in Abu Dhabi amid cash-ins on real estate stocks.
Aldar Properties fell 2.97%, while Etisalat remained unchanged. A total of 248.56 million shares changed hands at a total value of AED 985.79 million.
Source:
Mubasher
