United Arab Emirates shares higher at close of trade; DFM General up 1.35%

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United Arab Emirates shares higher at close of trade; DFM General up 1.35%
Credit: © Reuters.

Investing.com – United Arab Emirates equities were higher at the close on Wednesday, as gains in the Banking , Finance & Investment and Telecoms sectors propelled shares higher.

At the close in Dubai, the DFM General added 1.35% to hit a new 1-month high, while the ADX General index added 0.69%.

The biggest gainers of the session on the DFM General were Dubai Islamic Bank (DU: DISB ), which rose 3.35% or 0.180 points to trade at 5.560 at the close. Dubai Investments PJSC (DU: DINV ) added 2.37% or 0.050 points to end at 2.160 and Damac Properties Dubai Co PSC (DU: DAMAC ) was up 2.11% or 0.050 points to 2.420 in late trade.

Biggest losers included Marka Pjse (DU: MARKA ), which lost 1.69% or 0.02 points to trade at 1.16 in late trade. Gulf Navigation Holding PJSC (DU: GNAV ) declined 0.95% or 0.010 points to end at 1.040 and ARAMEX PJSC (DU: ARMX ) shed 0.92% or 0.030 points to 3.220.

The top performers on the ADX General were Emirates Telec (AD: ETEL ) which rose 3.68% to 19.70, Ad Islamic Bk (AD: ADIB ) which was up 2.86% to settle at 3.960 and Methaq (AD: METH ) which gained 2.50% to close at 0.820.

The worst performers were Int Fish Farmi (AD: ASMK ) which was down 3.13% to 1.55 in late trade, Ad Commercial (AD: ADCB ) which lost 2.27% to settle at 6.02 and Bank Of Sharja (AD: BOS ) which was down 2.13% to 1.380 at the close.

Advancing stocks outnumbered falling ones by 21 to 10 and 4 ended unchanged; on the Abu Dhabi, 10 rose and 8 declined, while 7 ended unchanged on the Dubai Stock Exchange.

In commodities trading, Crude oil for August delivery was down 1.35% or 0.63 to $46.17 a barrel. Meanwhile, Brent oil for delivery in September fell 1.69% or 0.82 to hit $47.65 a barrel, while the August Gold contract rose 0.24% or 3.25 to trade at $1338.55 a troy ounce.

USD/AED was up 0.00% to 3.6731, while EUR/AED rose 0.19% to 4.0711.

The US Dollar Index was down 0.20% at 96.36.

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