The UAE stock markets reversed course mid-day on Tuesday, with the Dubai Financial Market declining while the Abu Dhabi Securities Exchange moved into positive territory, benefiting from positive movements in leading stocks.
This comes as investors continue to await the Federal Reserve's interest rate decision, due to be released tomorrow, Wednesday, amid near-certain expectations of a 93% rate hike for the first time in more than three years.
According to trading data, the Dubai Financial Market index fell by 0.327% to reach a level of 5957.01 points, amid transactions worth 385.909 million dirhams through the trading of 137.797 million shares through the execution of 8,831 transactions.
Dubai Islamic Insurance and Reinsurance Company (Aman) topped the list of the biggest gainers with a 7.143% increase, and also continued to lead as the most active stock in terms of volume with 29.239 million shares traded.
While Sukoon Takaful shares led the decliners with a drop of 4.930%, Emaar Properties shares topped the activity in terms of value with trades amounting to AED 212.713 million.
In contrast, the Abu Dhabi Securities Exchange index turned slightly higher by 0.035% to trade at 10,121.91 points, with a liquidity of AED 520.788 million achieved through the trading of 166.737 million shares through 11,050 transactions.
The Investment Bank stock topped the list of gainers with a 6.250% increase, maintaining its lead in terms of volume with 31.243 million shares traded.
While Aram Group's stock came in as the biggest loser with a 4.895% drop, Alfa Abu Dhabi Holding's stock accounted for the largest share of the total value with trades that recorded 54.974 million dirhams.
It is worth noting that the Dubai Financial Market index recorded a slight increase at the opening of trading today by 0.195%, while the Abu Dhabi Securities Exchange index tended towards a decline by 0.206%.
