DFM hits one-year high as banking sector soars

Driven by robust gains in the banking sector following positive earnings announcements, Abu Dhabi bourse finished 0.773% higher Thursday, with the DFM hitting a one-year high.

The capital's Index FADGI was powered by the country's main lender, FAB, which closed at AED13.880, 3.270% higher. The United Arab Bank, National Bank of Ras Al Khaimah and Abu Dhabi Islamic Bank all followed suit and closed up 10.580%; 7.070%; and 2.530% respectively. ADNOC Drilling continued its optimum performance and ended 1.720% higher at AED4.140.

In Dubai, Emirates NBD was the best performer and finished 3.730% higher at AED13.900, driving the main index to close at 3,515.910 pts, with the Financials and Industrials indexes leading the market.

News Source: Emirates News Agency