Emaar stirs market appetite with turnover up to AED476 million
In yet a new bullish sign of its ability to break new highs over the coming few days and to further stir the market appetite, Emaar broke the AED8.00 mark for the second time in two weeks, drawing transactions worth AED88 million on Monday. Analysts attributed the upbeat sentiments that prevailed today to Emaar's outperformance, specially that the largest share of liquidity attracted by the company was secured during the second half of Monday's session, and particularly when the UAE property giant started to fly high until the end of the trading - an overall positive mood which augurs well for several companies to follow suit and noticeably improve during the latter half of the year.
Toward this end, the Dubai Financial Market General Index was up 0.41 percent to close at 3458 points, while Abu Dhabi Securities Exchange edged bit down 0.21 percent at 4491 points.
DFM's advancing shares in today's session, included Emaar Malls which increased to AED2.58 and Dubai Investments which closed up at AED2.18. In ADX, Aldar closed on a high note of AED2.35, with ADCB eclipsing all at the banking sector, spiking to AED7.13.
In terms of liquidity, a total of 4743 transactions were conducted worth AED476 million over 400 million shares. Out of 58 companies, 23 closed higher than yesterday, 25 down and 12 at their last traded prices.
