Selective buying spree continuing at UAE stock markets
Selective buying spree continuing at UAE stock markets
Abu Dhabi - Musimchronicle
A series of selective purchases targeting a number of leaders and dual-listed companies continued in the country's two main bourses Monday, with the general indices of both ADX and DFM edging slightly up and down respectively.
The absence of definitive direction of shares for the time being in the wake of the H1 financial results disclosure is encouraging leading investors to rather opt for selective buys, according to industry analysts.
Advancing shares at DFM, whose general index closed bit down 0.56 percent to 3595 points as compared to yesterday's session, include Emaar Malls which closed on a high note of AED2.49 and Damac which was up as well to AED3.89. Dual-listed equities included Hits Telecom Holding which increased to AED0.556 followed by Al Salam Group.
At ADX, whose General Index grew 0.05 percent, FAB topped winning shares, rising to AED10.65 while Dana Gas continued to rise, hitting 67 fils.
A total of 3971 transactions were conducted worth AED377 million against AED356 million yesterday over281 shares.
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