Emaar trades surge as realty pushes UAE bourses' gains to $2.34bn

Emaar continued its upward streak to AED2.96, Union Properties rose to 32fils, and Deyaar Development traded at 31 fils

Emaar trades surge as realty pushes UAE bourses' gains to $2.34bn [representative image]
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Emaar trades surge as realty pushes UAE bourses' gains to $2.34bn [representative image]

Realty stocks and top bank stocks drove positivity into the UAE's two main bourses at the start of the week, earning trading companies approximately $2.34bn (AED8.6bn) in market cap, amid aggregate liquidity of $239.6m (AED880m) through the flows of international and local firms.

In the Dubai Financial Market (DFM), Emaar continued its upward streak to AED2.96; Union Properties rose to 32fils; and Deyaar Development traded at 31 fils.

The DFM grew remarkably during Monday's trading to grow 2.03% and crossed the 3,000 mark, according to state-run news agency, Wam.

In Abu Dhabi, the main index - Abu Dhabi Services Exchange (ADX) - closed 0.59% higher than the last trading session at 4,569 points.

The First Abu Dhabi Bank (FAB) closed at AED11.50; the Abu Dhabi Commercial Bank PJSC (ADCB) closed at AED5.87; and ADNIC jumped to AED4.00 for the first time in a long time on Monday.

In the DFM, Emirates NDP witnessed trades worth approximately $39.2m (AED144m), sending it high to AED11.30.

A total of 10,517 deals worth $239.6m (AED880m) were conducted over 570 million shares.

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