UAE stocks continue to book profits

For the third straight session and despite a profit booking spree involving blue-chips that hit record highs over the past few days, UAE stock markets continued their positive streak Wednesday, driven by a bullish performance at the real estate sector.
Reflecting the prevailing high sentiments, Dubai Financial Market, DFM, General Index climbed 0.27 percent to close at 3,450 points led by a good performance at the consumer staple and services sectors while Abu Dhabi Securities Exchange, ADX, General Index closed slightly down 0.04 percent at 4,535 points following an expected profit booking spree.
DFM-listed Emaar closed at AED7.90 down from AED7.91 on the previous day, still holding, however, the chance of breaking the AED8.00 mark on the back of its record performance over the past few days. In the meantime, Emaar Malls rose to AED2.55, while Arabtec edged up by 2 percent to AED0.781.
ADX-listed Dana Gas was among the best performers, securing a cash of AED122 million worth of transactions, albeit closing down below 68 fils.
In terms of liquidity secured, a total of 7082 transactions were conducted worth AED720 million over 622 million shares, with 24 equities out of 69 closing higher over yesterday, 27 down and 18 at their last traded prices.
 
Source: WAM