Dubai – Mubasher: The UAE’s twin bourses, the Dubai Financial Market (DFM) and the Abu Dhabi Securities Exchange (ADX), traded higher on Sunday although 14 leading stocks declined.
The general rise came on the back optimism regarding companies’ financial results particularly banks’ added to the emergence of positive forecasts for global markets and following the temporary deal reached with US President Trump on the government shutdown.
By 11 am UAE time, ADX-listed Eshraq Properties dropped 2.52% to AED 0.465, while Abu Dhabi Commercial Bank (ADCB) lost 2.30% to reach AED 8.94, logging AED 16.89 million in turnover despite optimism regarding the bank’s potential merger with Union National Bank (UNB) and Al Hilal Bank.
In addition, Dana Gas’ stock shed 0.33% to AED 0.909, registering a turnover of AED 1.17 million.
Meanwhile, on the DFM, 10 blue-chip stocks were in the red, led by Emaar Development’s 2.93% drop to AED 3.64, weighed by negative projections of the stock leaving the MSCI index.
Ajman Bank sank 2.84% to AED 0.855, while Arabtec Holding slipped 0.95% to AED 2.09. In addition, Emaar Malls fell 0.64% to AED 1.560, while Union Properties decreased 0.25% to AED 0.399.
Moreover, Emaar Properties shed 0.24% to AED 4.1 following a turnover of AED 3.327 million, while Dubai Islamic Bank (DIB) declined 0.20% to AED 5.13, generating AED 4.07 million in turnover.
In the meantime, the ADX’s general index gained 0.46% to 5,042.32 points, while the DFM grew 0.21% or 5.16 points to 2.591.50 points.
