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Emirates NBD nears 2-yr record high Sunday

Emirates NBD nears 2-yr record high Sunday
Emirates NBD’s stock made up 42% of the DFM’s total turnover
Emirates NBD
EMIRATESNBD
0.87% 17.40 0.15

Dubai – Mubasher: Emirates NBD rose on Sunday, closing on its highest level in almost two-and-a-half years.

By 1:15 pm UAE time, the Emirates NBD’s stock surged 11.36% to AED 9.80 on the Dubai Financial Market (DFM), recording its highest level since August 2015.

The bank’s stock was the most active in terms of value and volume with AED 137.41 million and 14.56 million shares traded through 99 transactions.

Emirates NBD’s stock made up 42% of the DFM’s total turnover.

In the meantime, the DFMGI gained 0.77% or 25.29 points to reach 3,181.81 points, while turnover amounted to AED 324.851 million after 153.365 million shares changed hands.

The sharp increase comes after the bank announced plans to raise its capital to AED 7.35 billion by issuing new shares.