UAE stocks gain AED12.5 bn

Driven by the latest incentive stimulus packages, and the recent decision to set a 5 percent decline limit, UAE stocks gained AED12.5 bn in market cap by the end of Wednesday’s session.

The improved investor sentiments following the recent stimulation decisions to prop up the market saw Abu Dhabi’s General Index rising 2.29 pct to 3,399 points, with DFM edging up 1.03 pct to 1,768 points.

Against this backdrop a total of 8,219 transactions were conducted in the country’s two main bourses over 425 million shares worth AED550 million. Emirates NBD was the best performer, closing high at AED7.33, with Dubai Islamic Bank rising to AED4.12 and du to AED4.8.

In Abu Dhabi, Etisalat increased to AED12.68, ADCB up to AED4.44, Abu Dhabi Islamic Bank to AED3.74, with Aldar ending the session up at AED1.55.