The Abu Dhabi Securities Exchange (ADX) extended gains to a five-month high on Thursday, with property stocks generating the bulk of the buying interest.
The ADX added 0.17 per cent to 2,539.2, its highest close since September 27, to close a week of solid gains on the capital's index. Aldar Properties, the most traded stock by value and volume, climbed 3.77 per cent to Dh1.13 and Sorouh rose 0.9 per cent to Dh1.12.
"There is a lot of money on the sidelines at the moment and interest rates are low," said Chahir Hosni, equity sales manager at EFG-Hermes. "The Saudi market is driving gains in the region on rumours it may soon open up to foreigners while Egypt's bourse has also benefited from the improved political situation.
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