UAE stock exchanges continue rally
A. SREENIVASA REDDY (ABU DHABI)The UAE stock markets are in a buoyant mood, with both exchanges recording gains for several days now.The Abu Dhabi Securities Exchange (ADX) maintained its positive trajectory, with its general index (FADGI) rising by 0.214% to close at 10,362.16 on Monday. A total of 24,495 trades were executed, involving 409 million shares with a combined value of Dh1.43 billion. The total market capitalisation of all companies listed on the ADX stood at Dh3.160 trillion.Abu Dhabi Islamic Bank (ADIB), ADNOC Gas, and Aldar led the rally with 1.85%, 2.1%, and 1.02% rises, respectively. Other stocks that contributed to the rally include Bank of Sharjah, which rose by 7.38%, ARAM group, up by 4.66%, and Presight, which gained 2.97%.
The Dubai Financial Market (DFM) continued its rally, with its general index (DFMGI) rising by 0.28% to close at 6,167.68. A total of 13,828 trades were executed on the DFM, involving 372 million shares with a combined value of Dh765 million. Share prices of 25 companies rose, 24 declined, and nine remained unchanged. It was the fourth straight day of gains for the DFM, supported by strong earnings reports in the second quarter. Emirates NBD led the rally with a 2.9% rise in its share price.
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