UAE Bourses Went Lower

Big 5

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.