Backed by real estate stocks

Dubai Financial earns 6.6 billion dirhams in two sessions

Dubai market index rose 1.2% at the close of yesterday's session.

Photography: Ahmed Ardeti

The Dubai Financial Market consolidated its gains for the second consecutive session at the close of trading yesterday, supported by the continued optimism that returned to control investor sentiment in conjunction with the announcement by Emaar Properties of its intention to raise the percentage of foreign ownership in its shares.

The gains of shares listed on the Dubai market during the last two sessions recorded about 6.6 billion dirhams, with the market value increasing from 565.73 billion dirhams at the end of Tuesday's session to 572.30 billion dirhams at the end of trading Thursday.

The "Dubai Financial" index rose by 1.2% to close at 3,463 points, supported by the rise in real estate shares.

Of the 32 companies whose shares were traded yesterday, the shares of 22 companies rose, while the shares of five companies declined, and five companies remained unchanged.

The most traded shares were the shares of "Emaar Properties", which rose 4% at a price of 6.21 dirhams, with transactions of nearly 58 million shares.

For its part, the Abu Dhabi Securities Exchange closed yesterday, up 0.2% at the level of 10,039 points, with transactions worth a total of 1.3 billion dirhams.

The most heavily traded stock in the Abu Dhabi market was the share of «Multiplay», which rose by 0.9% to close at 2.07 dirhams, with a transaction of nearly 49 million shares.

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