Local stock market indices experienced an increase at the end of trading on Monday, marking the first session of the week, while trading remained subdued due to year-end holidays.
The Abu Dhabi index rose by 0.28% to reach 10,061.27 points, whereas the Dubai index edged up by 0.05% to close at 6,137.33 points.
In the Dubai market, shares of Bank Al Salam Sudan surged by 14.9%, hitting the maximum limit, followed by United Foods which climbed 5.8%, Aman with a 2.9% increase, and Bahrain’s Bank Al Salam with a 2.8% rise. Also, Dubai Taxi’s shares rose by 1.98%, and Emaar Development gained 0.98%. Conversely, National International’s shares fell by 4.8%, Salam by 4%, Emirates Takaful by 3.2%, and National General Insurance decreased by 1.34%.
In Abu Dhabi, shares of Abu Dhabi National Takaful rose by the maximum limit of 14.9%, while Sudatel Telecom climbed 13.6%, and the Arab Bank increased by 3.97%. Orascom shares also saw a rise of 3.24%. However, shares of Bank Um Al-Quwain dropped by 2.67%, Financing House fell by 1.8%, LuLu Retail decreased by 1.7%, and Aram Group was down by 1.65%.
Additionally, a significant transaction occurred in the Abu Dhabi market involving shares of “Two Point Zero,” valued at 1.5 billion dirhams, with 560 million shares changing hands at an execution price of 2.67 dirhams per share. A large transaction was also completed for shares of Al-Sayer Marine Equipment and Supplies Company, worth 141 million dirhams.