Local stocks gain Dhs61 billion in a week

The stock markets consolidated their gains during this week’s trading and its market capitalisation gained nearly Dhs 61 billion, supported by gains in real estate, financial and industrial shares.

The market gains were Dhs 52.8 billion for the Abu Dhabi Securities Exchange (ADX) and Dhs 8 billion for the Dubai Financial Market (DFM).

The market capitalisation of listed shares rose from Dhs 3.531 trillion in last Friday’s session to Dhs 3.591 trillion by the end of today’s session, with Dhs 2.858 trillion for ADX-listed shares and Dhs 733.3 billion for DFM-listed shares.

The FTSE ADX General Index (FADGI) rose by 1.75 per cent, or 163.12 points, to close at 9448.05 points, while the FTSE ADX 15 index (FADX15) rose by 1.52 per cent, gaining about 140.4 points to close at 9362.89 points.

The Abu Dhabi market was boosted by the rise in real estate sector 3.1 percent, industrial sector 2.96 percent, financial sector 1.87 percent, energy sector 1.48 percent, telecoms sector 1.08 percent and utilities sector 5.53 percent.

The General Index of the DFM rose by 1.1 percent, or 47.4 points, to close at 4,372.87 points, supported by gains in the real estate sector by 3.2 percent, the financial sector by 1.38 percent, the telecoms sector by 1.11 percent, and the industrial sector by 0.48 percent.

WAM