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Abu Dhabi: UAE markets gained on Tuesday, recovering Dh6.75 billion in market capitalisation after the strong losses of Dh15.67 billion recorded on Monday.
The Emirates Securities General Index advanced 0.85 per cent to 5,787.94, lifting the market capitalisation to Dh798.65 billion, while the value of traded shares increased to more than Dh2 billion, compared to Dh1.4 billion in the previous session.
In Dubai, the general index retrieved 1.43 per cent of its earlier losses to close at 5,467.74, as most of the leading shares reversed course and recorded gains.
Real estate
In the real estate sector, Emaar Properties added 1.33 per cent to its share price to close at Dh11.40, a modest gain when compared to Deyaar Development's surge by 5.7 per cent to Dh2.41.
Meanwhile, Dubai Islamic Bank managed to recover the hefty losses it recorded earlier in the week, and shot up 5.21 per cent to Dh9.70.
In Abu Dhabi, the general index advanced at a more moderate pace, due to the mixed performance reported by the leading shares, gaining 0.73 per cent to close at 4605.62.
In the real estate sector, Sorouh Real Estate plunged 4.11 per cent to Dh9.09, in contrast with Aldar Properties which advanced 1.5 per cent to Dh10.25.
Clarification: ESCA denies report
The Emirates Securities and Commodities Authority (Esca) denied yesterday the reports attributing the markets' slowdown to its decision to segregate the accounts of brokerage clients.
"We are witnessing at the same time declining shares trading volumes and market capitalisation in all GCC markets, as well as other regional and global markets, they are all unrelated to any segregation decision," Abdullah Al Torreifi, Esca's chief executive, said.
"There are several combined factors that affected the global markets. However, investors in the local market adopt a wait-and-see attitude for the disclosure of the quarterly reports to be issued soon."
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