UAE stocks gain 33 bn in market value in two sessions

UAE financial markets on Tuesday posted decent gains of around AED15.5.5 billion in market cap, driven by the realty and banking blue chips amid increased transactions that amounted to AED1.16 bn.

The upbeat sentiments saw ADX closing higher around 1.5 pct than the last session hitting 5,900 pts, and Dubai’s main stocks index edging up 0.23 pct to 2,558 pts.

In the Abu Dhabi Securities Exchange, ADQ rallied to AED63.10 amid over AED250 million in trades; FAB closed at AED14.60 following transactions worth AED231 million; Aldar Properties accelerated to AED3.79; and Etisalat to AED21.60.

In Dubai Financial Market, Emaar Properties closed at AED3.57; Emirates NBD to AED11.50; Dubai Islamic Bank steadied at AED4.54; and du continued its rising streak to AED7.08.

A total of 6,039 deals were conducted Tuesday worth around AED1.16 bn over 270 mn shares in both bourses where the combined gains of today and yesterday hit AED33 bn.