Today's Edition
A.SREENIVASA REDDY (ABU DHABI)
The UAE stock markets saw impressive gains on Wednesday as the global markets continue their bull run attracted by the prospect of further rate cuts this year.
The general index of Abu Dhabi Securities Exchange (ADX) — FADGI — saw a rise of 0.59% to reach 9516.31 points. It reported a total of 26,561 trades involving 472 million shares with a total value of Dh1.88 billion.
The trading session saw share prices of 41 companies rise, while 24 companies experienced a decline. Additionally, 14 companies closed unchanged compared to their previous closing prices. The market capitalisation of listed companies at ADX reached Dh2.918 trillion, inching closer to the Dh3 trillion milestone.
Apex Investments (+9.93%), ADNOC Drilling(+3.16%) Modon Holding(+2.74) and Multiply Group (+2.25) and International Holding Corporation (+0.22%) are among the prominent gainers while Abu Dhabi National Company for Building Materials (BILDCO) (-5.19), Invictus Investment (-4.47), Easy Lease Motorcycle Rental (-1.92) are among the prominent losers in the stock market on Wednesday.
In the Dubai Financial Market (DFM), the general index (DFMGI) was up by 0.61% to close at 4,488.69 points. The trading session witnessed 10,657 trades involving 200 million shares with a total value of Dh353 million. Combined market capitalisation of listed companies at DFM reached Dh756 billion at the end of the trading.
The trading session saw prices of 21 companies rise, while 15 companies experienced a decline. Additionally, nine companies closed unchanged.
Al Salam Sudan (+7.17%), Drake and Scull International (DSI) (+3.77%) and Parkin (+3.61%) are among the top gainers while International Financial Advisers (IFA) (-10%) Depa Limited (-7.60%), Depa Class A (-7.60%) are among those who experienced declines.
