Traded shares surge to one-month high of AED900 million

The value of shares traded on UAE stock markets reported a one-month high of AED900 million, driven by the listing of Emaar Development on the Dubai Financial Market, as well as the recovery of some blue chips.

Within this context, the DFM General Index rose 1 percent to 3445, while Abu Dhabi Securities Exchange General Index edged bit down by 0.85 percent to 4273 points.

In more details, Emaar Development was a top performer, wooing transactions worth AED279 million, which accounted for 36.6 percent of total trading on DFM, closing high at AED5.77 - 4.3 percent down from its pricing range of AED6.03.

In the meantime, Emaar Properties closed on a high note of AED7.80, while Emaar Malls closed at AED2.15, Damac up to AED3.41, and Arabtec following suit at AED2.47, after its announced new gains.

The dual-listed GFH was among the top performers as well, jumping to over AED1.75 following transactions worth AED173 million.

According to market analysts, the improved sentiments have been anticipated after beaten-out shares reached mouth-water levels over the past days, encouraging individual and corporate investors to intensify their sales.

At ADX, Eshraq closed high at 75 fils, with Dana Gas following suit at 73 fils, while profit booking over Etisalat has its own bearing on the market general index.

The two main bourses closed in the green, and advancing shares outnumbered losing equities, with 32 out of 62 trading companies closing high, 17 down and 13 at their last traded prices.