UAE stocks gain AED9.6 bn, driven by banking, realty sectors

The UAE two main bourses rallied anew Wednesday amid upbeat sentiments, with listed companies booking AED9.6 bn in gains that sent Dubai Financial Market high by 2.58 percent to 2632 points and Abu Dhabi Security Exchange 0.51 percent to 5060 points.

A total of 6447 transactions were conducted worth AED626 million over 250 million shares.

Liquidity came mainly following a buying spree targeting blue chips in the banking and realty sectors, with market analysts predicting further improvement pending the official approval of dividends by companies' general assemblies.

Within this context, Emaar continued to soar for the third session running, closing today at AED4.6, 6.2 percent up over the last traded price. Arabtec followed suit and gained 5 percent, closing at AED2.1 with Emaar Malls ending positively at AED1.73.

At the banking sector, the Emirates NBD climbed to AED10.40 and Dubai Islamic Bank edged up to AED5.16.

At ADX, Aldar rose to AED1.77 and ADCB to AED9.7.