Upbeat sentiments triggered by the positive performance of banking and telecommunications companies for the second straight session earned the UAE capital markets around AED11 billion ($3 billion) in market cap at the close of Wednesday's session.

 

At the capital's bourse, the general index rose 1.1 per cent to 4,376 points. FAB closed at AED11.60, and ADCB at AED5.23. Etisalat was among the best performers, growing significantly to AED16.78.

 

The Dubai Financial Market's general index rose to 2071 points, or 0.04 percent over the last trading session. 

 

This was motivated by the positive performance of leading banking shares, including the Emirates NBD which continued its positive performance and closed at AED8.93, followed by the Dubai Islamic Bank which ended the session at AED3.89.

 

A total of 5,881 deals were conducted worth AED408 million over 303 million shares.-TradeArabia News Service