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Bull run continues apace

The NBAD Emirates Stock Market Indices showed the same upswing with a gain of 6.57 points or 0.27 per cent to close at 2,423.04. The Emnex scored 9.47 points or 0.24 per cent to cross the 4000-mark at 4000.05.

Except for the insurance sector subindex, all other sectors performed strongly with the service sector subindex gaining 18.43 points or 0.28 per cent and the banking sector adding 16.43 points or 0.26 per cent.

Emnex daily stockline, tracking shares with a total market capitalisation of Dh190.52 billion, indicated sustained active trading with the total traded value touching Dh46 million.

While Union Properties traded 35 fils up, Emaar had registered good volumes, helping the property sector to post 0.43 per cent gain. The telecom sector gained by 0.11 per cent as Etisalat shares traded 20 fils up. Financial services sector gained 0.19 per cent as union National Bank and ADCB traded at higher levels while CBD lost 90 fils.

The Islamic sector gained 0.54 per cent as both Islamic banks traded at higher levels. despite Al Khanza Insurance trading 90 fils up, the insurance sector skidded 0.04 per cent.

Trading volumes on the Dubai Financial Market remained buoyant with 246 deals of 3.25 million shares worth Dh20.93 million.

All scrips in the services sector, which accounted for some 194 deals worth Dh15.45 million, maintained the bull run. Amlak was up by two fils, Emaar up by two fils, Shuaa Capital gained one fils, Tabreed gained 20 fils and Union Properties 35 fils. In the banking sector, apart from CBD, losers included Emirates Bank which shed five fils.

On the Abu Dhabi Stock Market, Etisalat shares rose 0.12 per cent to reach Dh168, getting closer to the 52-week high of Dh173.90.