Dubai-Mubasher: The UAE markets witnessed a volatile trend in Thursday's early trades, amid exchange of positions and continuous profit-taking, according to analysts
The UAE main indexes are technically on the positive track despite expectations of profit-taking amid higher oil prices and volatile performance of global markets, analysts earlier told Mubasher.
Abu Dhabi Securities Exchange (ADX) declined 0.03% or 1.08 points to reach 4,279.02 points by 10:50am UAE time.
The support level for Abu Dhabi’s main index stands at 4,267 points, according to Ahmed Al-Shamsi, head of technical analysis department at Traders Chamber.
Al-Shamsi noted that the index should keep its level at 4,246 points to continue its upward trend.
In Dubai’s stock market, Drake and Scull International rose 2.4%, while Damac Properties and Dubai Islamic Bank (DIB) advanced 1.9% and 1.5%, respectively.
The market saw trading of 127.3 million shares through 1,520 transactions, with turnover of AED 127.5 million.
As for Abu Dhabi’s market, TAQA declined 2.3%, in addition to First Gulf Bank (FGB) and Aldar Properties which slid 0.4% each.
Turnover reached AED 78.73 million after trading 106.99 million shares through 744 transactions.
