United Arab Emirates shares higher at close of trade; DFM General up 2.42%

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United Arab Emirates shares higher at close of trade; DFM General up 2.42%
Credit: © Reuters.

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

At the close in Dubai, the DFM General gained 2.42%, while the ADX General index climbed 0.65%.

The biggest gainers of the session on the DFM General were Arabtec Holding PJSC (DU: ARTC ), which rose 15.00% or 0.126 points to trade at 0.966 at the close. Oman Insurance Company P.S.C. (DU: OIC ) added 14.67% or 0.220 points to end at 1.720 and Union Properties PJSC (DU: UPRO ) was up 10.75% or 0.099 points to 1.020 in late trade.

Biggest losers included Air Arabia PJSC (DU: AIRA ), which lost 0.82% or 0.010 points to trade at 1.210 in late trade. Emirates NBD PJSC (DU: ENBD ) declined 0.48% or 0.040 points to end at 8.360 and Emirate Integrated Telecom Co PJSC (DU: DU ) shed 0.17% or 0.010 points to 6.000.

The top performers on the ADX General were Commercial Bank International (AD: CBI ) which rose 10.00% to 1.980, Arkan Building Materials Co PJSC (AD: ARKN ) which was up 6.49% to settle at 0.8200 and Methaq (AD: METH ) which gained 4.71% to close at 0.890.

The worst performers were Ad Natl Ins Co (AD: ADNI ) which was down 9.09% to 2.700 in late trade, Bank Of Sharja (AD: BOS ) which lost 2.84% to settle at 1.370 and Agthia Group (AD: AGTH ) which was down 1.55% to 6.35 at the close.

Advancing stocks outnumbered falling ones by 30 to 4 and 1 ended unchanged; on the Abu Dhabi, 16 rose and 6 declined, while 5 ended unchanged on the Dubai Stock Exchange.

In commodities trading, Crude oil for April delivery was down 0.50% or 0.27 to $54.06 a barrel. Meanwhile, Brent oil for delivery in April fell 0.53% or 0.30 to hit $56.36 a barrel, while the April Gold Futures contract fell 0.08% or 1.05 to trade at $1237.85 a troy ounce.

USD/AED was unchanged 0.00% to 3.6728, while EUR/AED fell 0.28% to 3.8586.

The US Dollar Index Futures was up 0.16% at 101.61.

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