UAE Stocks Surge Due to Real Estate, Banking Performance Despite Profit-Taking by Some Companies”.

On Tuesday, UAE stocks experienced sustained growth, driven by the performance of major real estate companies in Dubai and leading banks in Abu Dhabi. Most other prominent stocks remained unchanged, with some companies experiencing partial profit-taking. The Dubai market index rose by 0.14%, while the Abu Dhabi market index increased by 0.08%.

Foreign investors contributed to the market with a net investment totaling 126 million dirhams, with 94.7 million dirhams invested in Dubai and 31.1 million dirhams invested in Abu Dhabi. In Dubai, Emaar Properties and Emaar Development saw their share prices increase, while Union Properties experienced some profit-taking. In Abu Dhabi, bank shares such as First Abu Dhabi, Abu Dhabi Commercial, and Abu Dhabi Islamic continued to support the market index.

Liquidity in the markets totaled 1.47 billion dirhams, with 988 million dirhams in Abu Dhabi and 483.7 million dirhams in Dubai. The Abu Dhabi market saw increases in sectoral indices for financial, communications, and health care stocks but declined in energy and industry sectors. Meanwhile, the real estate sector shares rose in Dubai while banks remained stable there; utilities and industrial sectors experienced declines there too.

Trading volumes were led by International Holding and Alpha Dhabi in Abu Dhabi’s market while Emaar Properties had the highest trading volumes on Dubai’s side. Nationalities of buyers showed different patterns of buying and selling activity – Gulf investors tended to buy more frequently than foreign ones – across both markets