By: Mahmoud Gamal

Dubai – Mubasher: Five UAE-listed stocks rose despite the wave of declines that hit most GCC markets on Wednesday, in line with the decline of oil prices and global stocks.

Abu Dhabi-listed Asmak, Takaful Al Emarat Insurance Co, and National Bank of Abu Dhabi (NBAD) rose 4.5%, 3%, and 0.7%, respectively, by 1:30pm UAE time.

Dubai-listed Emirates NBD and GFH Financial Holding increased 1.34% and 0.37%, respectively.

Some portfolio investors focused on stocks which reached attractive price levels amid a positive outlook for the stocks’ operational performance, according to technical analyst Hamed Al Anqari.

The Abu Dhabi Securities Exchange (ADX) fell 1.09% to 4,463.20 points at the same time, while the Dubai Financial Market (DFM) declined 0.9% to 3,464.3 points.

The markets are still in the negative zone due to the decline of oil prices below $50 per barrel, in addition to the fall of global markets, Al Anqari added.

Translated by: Julian Nabil