UAE stocks off to a promising start in April’s opening sessions

Dubai and Abu Dhabi Markets Experience Growth Amidst Diverse Sectoral Performance

On Monday, both the Dubai and Abu Dhabi markets saw positive movements. The Dubai market index rose by 0.4% to 4263.29 points, driven by real estate shares, while the Abu Dhabi market also saw a 0.18% increase to 9245 points, supported by banking shares.

In Dubai, trading focused on four real estate stocks: Union Properties, Emaar Properties, Emaar Development, and Deyaar. These stocks accounted for about half of the Dubai market’s liquidity. Meanwhile in Abu Dhabi, significant gains were seen in the financial, industrial, and utilities sectors, with shares of First Abu Dhabi Bank, Abu Dhabi Commercial, Abu Dhabi Islamic and Taqa all seeing increases.

A large deal was executed on the shares of Emirates NBD Bank in Dubai while three transactions were executed on the shares of Abu Dhabi National Hotels Company in Abu Dhabi. In terms of nationality-based trading, Gulf investors tended towards buying in Dubai while Arab investors and citizens moved towards liquidation in both markets. Investment portfolios leaned towards buying across different sectors in both markets.

Overall the liquidity and trading activity in both markets indicate a level of confidence among investors and their interest in purchasing shares across different sectors drove growth in the real estate and industrial sectors while financial and utilities experienced a decline.

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