Local stocks gained 16 billion dirhams in the last sessions of the week

Local stock markets consolidated their gains in the last sessions of the week, as their market capitalization gained more than 16 billion dirhams, amid focus on the leading stocks.

The market capital of listed shares rose from 3.202 trillion dirhams at the end of Thursday's session, to 3.218 trillion dirhams at the end of yesterday's session, distributed by 2.638 trillion dirhams for shares listed on the Abu Dhabi Stock Exchange, and 579.14 billion dirhams for shares listed on the Dubai Financial Market.

Local stocks attracted more than 1.43 billion dirhams of liquidity, distributed by 1.25 billion dirhams in the Abu Dhabi market and 179.5 million dirhams in the Dubai market, where about 261.2 million shares were traded through the implementation of more than 16.9 thousand transactions.

The Abu Dhabi market index rose by 0.6% at the level of 10151 points, with transactions amounting to a total value of 1.2 billion dirhams.

The Dubai Financial Market index rose by 0.3%, at 3324 points, with transactions amounting to 179 million dirhams.

The most heavily traded stock was Ā«Gulf NavigationĀ», up by 1.7% at 0.715 dirhams, with transactions of nearly 18 million shares.

Vijay Valesha, head of the investment department at Century Financial, said that the UAE stock markets witnessed another strong day of trading activity on Friday, expecting the markets to achieve stronger performance during the next week with the new commercial transactions law.

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