UAE stock market indices rose at the close of trading on Thursday, amid anticipation of US jobs data and traders’ optimism after statements by the Federal Reserve Chairman regarding the possibility of cutting interest rates this year.
Federal Reserve Chairman Jerome Powell indicated that policymakers will make their decisions in light of economic data.
According to data from the UAE financial markets, the Dubai and Abu Dhabi stock exchanges attracted liquidity amounting to 1.175 billion dirhams, distributed over 21,491 thousand transactions.
At the close of trading, the Dubai Financial Market index rose by 0.15 percent to 4,246 points, amid trading volume of 139.575 million shares worth 300.217 million dirhams.
This came amid a 0.15 percent rise in Dubai Commercial Bank, 0.41 percent in DEWA, 0.24 percent in Deyaar Development, and 0.44 percent in Dubai Taxi.
The Abu Dhabi Securities Exchange index also rose by 0.32 percent to 9,239 points, amid trading volume of 200.817 million shares worth 874.817 million dirhams.
This came amid a 1.08 percent rise in Abu Dhabi Commercial Bank shares, 0.95 percent rise in ADNOC Gas shares, 1 percent rise in ADNOC Drilling shares, and 0.74 percent rise in ADNOC Gas shares.
The market value of Abu Dhabi shares reached 2.734 trillion dirhams at the close of trading today, compared to 2.726 trillion dirhams at the close of trading on Wednesday, with gains amounting to 8 billion dirhams.
