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Realty Sector Drives DFM High To 3133 Points

The property sector drove the country's two main bourses Wednesday to post decent gains, with Dubai Financial Market General Index closing on a high note of 3133 points, up 1.4 percent over the previous session.

Industry analysts attributed the positive performance to the momentum provided by the realty market where Emaar led the spike and spiralled to AED5.93, a growth of 4.8 percent over the last traded price.

The mobility by the realty giant reflected favourably on Emaar Malls as well which edged up to AED2.18 and Emaar Development which closed high on AED5.40, with Arabtec following suit to AED2.23. On the banking sector, Emirates NBD improved to hit AED10.35, with Dubai Islamic Bank continuing its upward movement to AED5.50.

At the capital's bourse, Abu Dhabi Commercial Bank broke a new high of AED7.18, followed by Union National Bank to AED3.81 and Aldar to AED2.1.

A total of 3851 transactions were conducted worth AED350 million over 203 million shares, with 35 firms out of 68 traders closing in the green, 27 down and seven companies at their last traded prices.

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