Trading value breaks AED1 billion mark on UAE capital markets

The value of trading on UAE two main bourses exceeded the one billion dirham mark on Wednesday, the last day before a four-day national holiday.

The tremendous increase in cash levels came following a state of precarious calmness that prevailed over Dubai Financial Market and Abu Dhabi Securities Exchange, which closed at 3420 and 4283 points respectively.

Advancing shares included a number of blue chips, primarily ARABTEC which closed on a high note of AED2.44 and DAMAC, which rose to AED3.45, with Drake and Skull up 4.4 percent to AED1.91.

Dubai Investments was a top performer closing AED2.46 following transactions worth AED261 million, followed by Emaar Development, which closed down to AED5.60 following AED151 million of transactions.

At ADX, Etisalat drove trading activity after it rebounded to AED16.40 amidst transactions of AED55 million.

In terms of trading volume and liquidity, a total of 391 million shares were traded through 5799 deals on both markets worth AED838 million at DFM and AED165 million at ADX.

Out of 64 traded shares, 20 companies closed in the green, 25 down and 19 at their last traded prices.

Source: Wam