(MENAFN- Khaleej Times) Bulls took control of UAE stock markets on Tuesday and Dubai also led other Gulf markets in terms of index gain.
Dubai Financial Market's General Index, which went down by 1.7 per cent on Monday, rebounded with 1.3 per cent gain and closed at 2,656.12 points. Abu Dhabi Securities Market main index edged up 0.02 per cent to 3,878 points.
Saudi stock opened after a week-long break and increased by 0.5 per cent to 8,115 points. Qatar ranked third with 0.7 per cent gain in index followed by Oman 0.2 per cent, and Kuwait 0.1 per cent. Bahrain index fell by 0.1 per cent to 1,198 points.
Dubai Index gain shows return of investors after Eid holidays and it is expected to go further up during rest of the week as witnessed during July, according to equity analysts.
Dubai Index is still more than 62 per cent up year-to-date. Last month, DFM Index surged by 16.5 per cent and Abu Dhabi Securities Exchange index jumped by 8.3 per cent. At the DFM, Emirates NBD ranked top among value gainers as the bank's stocks jumped by 3.6 per cent to Dh5.7, followed by Arabtec Holding increased by 3.3 per cent to Dh2.5. Air Arabia also increased by 2.2 per cent to Dh1.4.
Arabtec Holding led volume leaders with 43.6 million shares, followed by Dubai Financial Market 23 million shares and Air Arabia 21 million shares. The Dubai stocks witnessed total 2,819 trades and trading volume declined to 181 million shares. Abu Dhabi stocks trading volume reached 81 million shares with 1,338 total trades.
At the ADX, Aldar Properties topped the volume leaders list with 45 million shares and stock price increased by 2.6 per cent. The company, after the trading hours, said its chief executive Sami Asad would step down on Thursday and the announcement of a new CEO will be made in due course.
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