Dubai’s top index driven higher as real estate gains
Dubai bourse’s main index gained on Monday, as real estate stocks got a brief relief after earlier declines, while banking stocks in Abu Dhabi drove the emirate’s benchmark higher. The Dubai Financial Market (DFM) index rose 0.7 per cent at 2,705.47, while Abu Dhabi’s ADX was up 1 per cent at 5,0
Published -
Nov 25, 2019 10:02 PM
Dubai bourse’s main index gained on Monday, as real estate stocks got a brief relief after earlier declines, while banking stocks in Abu Dhabi drove the emirate’s benchmark higher. The Dubai Financial Market (DFM) index rose 0.7 per cent at 2,705.47, while Abu Dhabi’s ADX was up 1 per cent at 5,091.28 points. The Dubai index was driven by a 1.2 per cent jump in real estate giant Emaar Properties and its unit Emaar Development spiking 2.5 per cent. The benchmark representing other property peers was up 1.4 per cent. In Abu Dhabi, Abu Dhabi Commercial Bank leapt 3.1 per cent while market heavyweight First Abu Dhabi Bank opened up 0.3 per cent. The key index in Saudi Arabia fell 0.3 per cent, with Al Rajhi Bank dropping 1.3 per cent. The index rose for five straight sessions last week, as banking stocks rose on reports that lending spiked since Saudi Aramco marketed its initial public offering (IPO) to Saudi nationals.
Tags : INTERNATIONAL Dubai Dubai real estate Abu Dhabi Commercial Bank