UAE stock markets buzz with activity on day one of MSCI upgrade | The National

UAE stock markets buzz with activity on day one of MSCI upgrade | The National:



"It was a scene that one investor likened to Ali Baba’s cave as day traders returned in numbers to the Abu Dhabi Securities Exchange.



The UAE bourses were yesterday reclassified by the index compiler MSCI as emerging markets – opening up the country to a much broader universe of global investors.



The Abu Dhabi Securities Exchange General Index is up 20.2 per cent this year, while the Dubai Financial Market General Index has jumped 50 per cent in the same period.



Trading on the broader market was lacklustre yesterday, concentrated in select stocks after both bourses recorded their best day of the year on Thursday – their last day of trading before being included in the index."



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