Realty, banking blue chips continue to drive UAE markets

ABU DHABI, 30th August, 2022 (WAM) -- The UAE financial markets on Tuesday posted gains of around AED4.1 billion in market cap fueled by continued upbeat sentiments at the realty and banking sectors and cash inflows by institutions and individuals alike.

Driven by Emaar, Dubai General Index (DFMGI) advanced 0.79 percent to 3,463.5927.16 pts, with the property blue chip closing higher at AED4.80 and AED6.04 for Emaar Development and Emaar Properties respectively.

Among other stocks, Emirates NBD, DEWA, and TECOM increased 0.74 percent, 0.77 percent and 1.25 percent, respectively.

Abu Dhabi index (FTFADGI) closed slightly 0.02 percent down to 9970.11 pts affected by conglomerate International Holding Company (IHC.AD), traded as ASMAK, slipping slightly down to AED338.800, after AED302 million of liquidity and FAB following suit to AED19.560.

Among other stocks, Alpha Dhabi rose 0.17 percent to AED24.240 and Multiply 0.46 percent up to AED2.180 while ADNOC Distribution moved 1.75 down to AED4.490.