UAE markets in green driven by improved sentiments at realty, banking sectors

Wed 19-10-2022 01:54 AM

ABU DHABI, 18th October, 2022 (WAM) – The UAE Stock markets closed higher on Tuesday, led by gains in heavyweight real estate and banking sectors.

In Abu Dhabi, the FADX 15 , the first co-developed index under ADX’s strategic partnership with FTSE Russell, advanced 3.511 % bolstered by the International Holding Co PJSC (ASMAK) surging to AED388.800 following the Abu Dhabi government’s decision to transfer the ownership of Etihad Aviation Group — the parent of Etihad Airways — to the holding company.

Following suit, FAB, ADIB, and ADCB closed higher 2.43 %, 1.56 % and 0.89 % respectively.

Likewise, Dubai’s main share index (DFMGI) closed 0.98% higher, driven by improved sentiments at the real estate and banking sectors. Dubai Islamic Bank, Emirates NBD, and Emaar Properties all ended the session favourably by 1.5 %, 0.76 % and 0.82 % respectively.

HATEM MOHAMED

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