The UAE stock markets closed higher on Tuesday, led by gains in heavyweight real estate and banking sectors.
On the Abu Dhabi bourse, the FADX 15 rose by 3.511 percent, mainly driven by a surge in the share price of International Holding Co PJSC (ASMAK) to AED388.800 following the Abu Dhabi government’s decision to transfer the ownership of Etihad Aviation Group – the parent of Etihad Airways – to the holding company.
Share prices of FAB, ADIB, and ADCB also closed higher by 2.43 percent, 1.56 percent, and 0.89 percent respectively.
Dubai bourse’s main share index – DFMGI – closed 0.98 percent higher, driven by improved sentiments in the real estate and banking sectors.
Dubai Islamic Bank, Emirates NBD, and Emaar Properties all ended the session higher by 1.5 percent, 0.76 percent, and 0.82 percent respectively.
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