Dubai – Mubasher: Emirates NBD rose 0.55% to AED 9.200 on the Dubai Financial Market (DFM) during Thursday’s mid-trades, boosting the banking sector’s gains. This follows Fitch’s affirmation of its long-and-short-term issuer default ratings (IDR) along with four Abu Dhabi banks, as part of its review of the UAE banking sector.

This rise marks the stock’s gains for the second straight session.

The DFM’s banking sector grew 0.46%, cutting the general index’s declines to 0.87%. The index fell to 3711.5 points.

Trading on Emirates NBD reached 231,500 shares at a turnover of AED 2.13 million through six transactions.

EFG Hermes previously set the fair value of the Dubai-listed bank at AED 12.5 with the recommendation ‘buy’.

Emirates NBD’s annual general meeting (AGM) held on Wednesday approved a 35% dividend to shareholders, amounting to AED 0.35 per share for the fiscal year ended 31 December 2014.