Property blue chips including Emaar, Aldar lift UAE stocks by $1bn

Emaar shares rose to AED4.23, with Aldar Properties rising to AED2.25, followed by Arabtec at AED1.24

Property blue chips including Emaar, Aldar lift UAE stocks by $1bn [representative image]
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Property blue chips including Emaar, Aldar lift UAE stocks by $1bn [representative image]

Property blue chips led by Dubai Financial Market-listed (DFM) Emaar and Dubai Investments, as well as Abu Dhabi Stock Exchange-listed (ADX) Aldar Properties and Arabtec kept sentiments high as the UAE stock markets rallied at the start of the week booking $1bn (AED3.8bn) in gains by the end of the 19 January trading session.

The ADX performed well, closing up at 5,174 points, while the DFM, likewise ending up closed 1.23% higher at 2,863 points.

Emaar shares rose to AED4.23, continuing their upward streak. Dubai Investments PJSC, which was among the best performers, closed at AED1.37.

Shares in Aldar Properties climbed to AED2.25, followed by Arabtec's shares at AED1.24

The market also gained momentum from the banking sector, state news agency, Wam, stated with the First Abu Dhabi Bank (FAB) rising to AED15.58.

Emirates NBD followed suit up to AED13.90 after trading of  $45.2m (AED166m). In addition, Abu Dhabi Islamic Bank (ADIB) closed high at AED5.63, following $10.9m (AED40m) in trading.

A total of 2,979 transactions worth $114.34m (AED420m) were conducted over 171 million shares on 19 January, 2020.

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