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UAE stocks continue to recover

Insurance sector scored the highest percentage as Oman Insurance price continued to move up steeply, followed by Al Khazna Insurance.

Financial service sector gained 0.76 per cent as Abu Dhabi Commercial Bank and National Bank of Dubai traded at higher levels, while Islamic sector moved up by 0.72 per cent as Islamic Banks witnessed positive movements.

Property sector gained 1.55 per cent as Union Property and Emaar traded at higher prices and Etisalat share price moved up by Dh2.30 helping the Telecom sector to close higher for the day.

The Dubai Financial Market (DFM) Index regained further 5.51 points to end the day at 466.15 points. Overall, the domestic market witnessed moderate trading activity yesterday. In just slightly over 1,000 transactions at DFM yesterday some 16.2 million shares changed hands, with total value of Dh190.1 million.

All the key UAE leading stock indices continued to recover yesterday. The market benchmark NBAD General Index was up by 77.14 points or 0.87 per cent to close at 8,868.65.

The subindices also went up, with the service sector index being the major gainer for the day.