Abu Dhabi and Dubai’s benchmark indexes continued their upward streaks, capitalising on US Fed’s recent assurance of significant declines in inflation.
Abu Dhabi’s indexes ended in green, underpinned by gains in banking, utilities and industry sectors stocks as risk appetite increased as a result of positive remarks by the U.S. Federal Reserve chairman.
Dubai main index continued to increase for the fifth session straight, with blue-chip properties Emaar ending the session 1.980% up at AED5.66.
Tecom Group led the gains in Dubai after a 5.260% rise to AED2.400.
In the capital, FAB, the country’s main lender, edged 1.130% percent higher to AED14.380.
News Source: Emirates News Agency