A.SREENIVASA REDDY (ABU DHABI)
The UAE stock markets saw positive trading, buoyed by an upbeat global market mood following the election of Donald Trump as President of the United States.
The general index of the Abu Dhabi Securities Exchange (ADX), known as FADGI, rose by 0.437%, reaching 9,424.93 points.
A total of 23,624 trades were reported, involving 406 million shares with a combined value of Dh1.36 billion. The market capitalisation of all companies listed on ADX reached Dh2.908 trillion, nearing the Dh3 trillion milestone.
The ADX also reported three bulk trades worth Dh80.88 million, involving 57.77 million shares of RAK Company for White Cement and Construction. In total, share prices of 40 companies rose, while 22 companies declined, and 21 remained unchanged from their previous closing prices.
Abu Dhabi National Company for Building Materials (+14.93%), Americana Restaurants International (+7.59%), and RAK Company for White Cement (+6.25%) were among the prominent gainers. Conversely, National Bank of Fujairah (-9.81%), Invictus Investment (-4.69%), Palms Sports (-2.08%), and RAK Bank (-2.08%) were among the day’s notable losers.
In the Dubai Financial Market (DFM), the general index (DFMGI) increased by 0.473%, closing at 4,616.28 points.
The trading session saw 10,210 trades, involving 209 million shares with a total value of Dh309 million. Prices of 26 companies rose, while 13 declined, and six closed unchanged.
Takaful-Emirates (+14.70%), National International Holding (+13.04%), and Agility Warehousing (+8.88%) were among the top gainers. Meanwhile, Al Ramz Investment (-7.7%), BHM Capital (-5%), Spinneys (-3.18%), and Commercial Bank of Dubai (-1.89%) saw declines.