UAE Bourses Went Lower

During Wednesday’s trading, the UAE bourses the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) recorded lower readings.

The Abu Dhabi Securities Exchange (ADX) declined 0.58% to 2,532.03 points, as share fell across all sectors.

While the conventional Bank of Sharjah or Bos dipped 0.60%, shares of Abu Dhabi Islamic Bank, known as ADIB, and Sharjah Islamic Bank advanced 1.74% and 1.12%, respectively. According to The Banker Middle East, Shari’ah-compliant UAE lenders account for 30 percent of the global islamic banking industry.

64.5 million shares were traded, valued at Dhs 103.5 million ($28.27 million).

In the meanwhile, the Dubai Financial Market (DFM) dipped slightly on Wednesday, ending off 0.38% at 1,672.01 points.

While the UAE’s first developer Emaar slipped 0.62%, logistics provider Aramex gained the most (up 1.11% at Dhs 1.82 ($0.50)). Air Arabia advanced 0.42% to close at Dhs 0.721 ($0.20).

Some 177.1 million shares were traded, valued at Dhs 238 million ($65.01 million).

This news has been reported by AMEinfo.

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