Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
The UAE stock markets ended higher on Thursday after the Central Bank of the UAE cut interest rates following a larger-than-usual easing by the US Federal Reserve.
The Fed cut its benchmark rate by 50 basis points (bps) on Wednesday, with policymakers seeing another half a percentage point fall by the end of this year.
The general index of ADX (FADGI) saw a decent rise of 0.82% to reach 9500.22 points. It reported a total of 31,716 trades involving 750 million shares with a total value of Dh2.52 billion.
The trading session saw the share prices of 44 companies rise while 25 companies experienced a decline. Additionally, 13 companies closed unchanged compared to their previous closing prices. The market capitalisation of listed companies at ADX reached Dh2.905 trillion, well on its way to cross Dh3 trillion target.
Apex Investments, Aldar Properties, International Holding Company (IHC) and Multiply Group are among the prominent gainers, while Abu Dhabi National Company for Building Materials (BILDCO), Aram Group, Fujairah Cement Industries (FCI) and GFH Financial Group are among the prominent losers in the stock market on Thursday.
In the Dubai Financial Market (DFM), the general index (DFMGI) was up by 0.71% to close at 4,421.52 points. The trading session witnessed 10,254 trades involving 178 million shares with a total value of Dh372 million. The combined market capitalisation of listed companies at DFM reached Dh743 billion at the end of the trading.
The trading session saw prices of 21 companies rise, while 18 companies experienced a decline. Additionally, seven companies closed unchanged.
Takaful Emarat, 21Shares Bitcoin (ABTC) and Bitcoin Fund (QBTC) are among the top gainers, while National Cement Company (NCC), Shuaa Capital and Agility Warehousing are among those who experienced declines.
