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UAE stocks gained AED40 bn in five sessions |
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The UAE financial markets booked to the tune of AED40 billion in market cap gains over the five sessions of this week, driven by the significant incentives and stimulus packages provided at the country level to dampen the economic impact of COVID-19. According to official figures, the Abu Dhabi's General Index rallied 10.1 percent across the week, closing at 4113 pts. In Dubai, the positive sentiments saw the General Index rise 6.3 percent to 1830 pts. On the last day of the week, the heavyweight stocks maintained their upward streak, with Etisalat hitting AED15.1, followed by FAB at AED12.1, Abu Dhabi Islamic Bank, AED3.33, with Al Aldar Properties closing at AD1.50. At the Dubai Securities Exchange, the Emirates NBD jumped to AED8.40 and Dubai Islamic Bank rose to AED3.19. On the property sector, Emaar ended the week up at AED2.37 followed by Emaar Development at AED2.08. On Thursday, 7,066 transactions were conducted worth AED425 million over 277 million shares. |
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