UAE stock markets soar as communication and property stocks lead the way

UAE stock markets Monday continued to capitalise on improved investor sentiments, with blue-chip communication stocks leading the gainers in the Capital's bourse, and giant property Emaar driving the Dubai Financial Market's best performance in a month.

In Abu Dhabi, Index FADGI closed 0.752 % higher at 9,501.150 pts, buoyed by robust trading over telecom firms, including Sudan's SUDATEL, 11.810 % up, Qatar's QTEL, 10.890% and Etisalat, 3.350% up. Abu Dhabi Islamic Bank also maintained its favourable performance, closing up 5.010 % at AED10.480. Property giant Aldar also closed 2.8% up at AED4.780.

In Dubai, property blue-chip Emaar led the rally, closing 3.21% up at AED5.780, with Emaar Development following suit, ending the session higher 1.090% at AED5.570. The emirate's main lender, EmiratesNBD contributed to the favourable performance, closing 1.52% higher at AED13.35.

News Source: Emirates News Agency