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Service sector gains lift key indices

DUBAI — Leading UAE stock indices gained yesterday as the service sector shares including Emaar, Amlak, Union Properties, Tabreed and Etisalat reported gains . The banking sector shares reported moderate gains.

While the Arab Emirates Bank closed Dh920 hitting the upper circuit braker of DFM, the Abu Dhabi Islamic Bank gained 9.5 per cent.

The UAE market benchmark, National Bank of Abu Dhabi Index gained 248 points to close at Dh16,682 point with the banking and service sector subindices gaining 175 points and 422 points respectively. The DFM index DSI gained more than 2 per cent to close 21 points up at 1052.

Across the two bourse, the overall market turnover increased by 12 per cent to Dh2.24 billion. In 10192 transactions, the Dubai Financial Market traded 139 million shares worth Dh1.88 billion.

Leading property scrip Emaar gained 55 fils to close at Dh23.65, Amlak gained 7.6 per cent. Shuaa slipped 10 fils while Tabreed and Union Property gained 7 fils and 16 fils respectively.

The banking sector traded over 5 million shares yesterday with AEB scrip closing Dh120 up at Dh920. While the Emirates Bank share slipped 60 fils, National Bank of Dubai gained Dh5.05.

On ADSM, the Abu Dhabi Islamic Bank scrip continued to surge with the scrip closing Dh7.20 up at Dh117.20 The Abu Dhabi Commercial Bank gained Dh5 while NBAD slipped by 45 fils to close at Dh44.55. In the service sector, the telecom share Etisalat closed 55 fils up at Dh33.30.