Stock markets in the United Arab Emirates were mixed in quiet trade on Friday, as investor sentiments were subdued amid regional tensions and declining oil prices, although Abu Dhabi rebounded after four consecutive sessions of decline.
In Dubai, the main share index (.DFMGI), opens new tab fell 0.2%, with financial and property stocks leading the losses.
Dubai's largest lender Emirates NBD Bank (ENBD.DU), opens new tab dropped more than 1% and blue-chip developer Emaar Properties (EMAR.DU), opens new tab was down 0.2%.
On a monthly basis, the benchmark settled 1.3% higher in August, making it the third month in a row it has gained, with July being the best month so far this year when it was up 5.9%.
Dubai's stock market showed volatility after it reached an important resistance level. Despite this, both its weekly and monthly performances remain positive, said Hani Abuagla Senior Market Analyst at XTB MENA.
Abu Dhabi's benchmark index (.FTFADGI), opens new tab gained 0.6%, after four consecutive sessions of decline, bolstered by a 1.8% rise in the country's largest lender First Abu Dhabi Bank (FAB.AD), opens new tab.
The index ended 0.6% down in August after two months of gains.
Additionally, the UAE financial markets saw changes in the MSCI index, with Parkin (PARKIN.DU), opens new tab and Spinneys (SPINNEYS.DU), opens new tab being added to the small-cap index, and ADNOC Drilling (ADNOCDRILL.AD), opens new tab joining the global benchmark indices.
No comments:
Post a Comment