UAE stocks continued their upward momentum during Monday’s trading session, supported by strong performances from several blue-chip stocks, led by Emaar Properties, which played a key role in pushing the Dubai Financial Market index above the 6,000-point mark. Meanwhile, the Abu Dhabi market also moved higher, supported by gains in real estate and technology stocks.
The Dubai Financial Market index rose 1% to 6,001.2 points, benefiting from a notable surge in Emaar Properties shares, which climbed 7.7% to AED 11.74. Trading activity on the stock was strong, with turnover reaching about AED 436 million.
The strong performance came as investors awaited the company’s discussions on enhancing shareholder returns, along with plans related to capital allocation, helping to strengthen positive momentum in the stock during the session.
Emaar Development and Blue-Chip Stocks Support Dubai Gains
The positive performance extended to several leading stocks on the Dubai market, with Emaar Development rising 3% to AED 13.3 amid continued demand for real estate shares.
Emirates NBD gained 0.3% to AED 31.66, while du rose 0.35% to AED 11.64. Dubai Islamic Bank also advanced 0.5% to AED 7.4.
Aman shares also saw strong activity, rising to the daily upper limit at AED 0.546, amid a noticeable improvement in trading appetite across a number of market stocks.
Abu Dhabi Market Continues Higher on Real Estate and Technology Support
On the Abu Dhabi Securities Exchange, the general index maintained its positive performance, rising 0.26% to 10,138.86 points.
The market was supported by a number of blue-chip stocks, led by Aldar Properties, which gained 2.17% to AED 7.98, benefiting from continued investor interest in real estate shares.
Space42 also jumped about 6% to AED 2.11 after Space42 and Viasat announced the establishment of a global satellite communications platform, a development that had a positive impact on the stock’s performance during the session.
