Dubai rises 0.64% and Abu Dhabi 0.26%, ending three days of declines
Dubai's General Index ended a three-session losing streak, rising 0.64% to 5,807.83 points, while Abu Dhabi's index gained 0.26% to 9,490.72.
Dubai and Abu Dhabi exchanges ended a streak of three losing sessions, as the Dubai Financial Market General Index rose 0.64% to 5,807.83 points and the FTSE Abu Dhabi General Index gained 0.26% to 9,490.72 points, on the first trading day after the weekend.
Trading value on the Abu Dhabi market reached AED 775.4 million across 20,852 transactions, in a session that The Edge report said looked past the oil slide, as the UAE market rebounded despite the fall in Brent crude.
The rebound came after three consecutive days of declines, on the first trading day after the weekend, at a time when regional markets are dealing with a clear divergence in direction.
The UAE's performance ran counter to the rest of the region's markets, as the Kuwait bourse continued its decline for a fourth day, the Bahrain bourse recorded a decline for the fourteenth consecutive session, while the Saudi Tadawul index rose 0.45%.
What do these terms mean?
Dubai General Index (DFM General): The main index of the Dubai Financial Market, measuring the performance of the shares listed on it.
FTSE Abu Dhabi General Index: The main index of the Abu Dhabi Securities Exchange, comprising the largest shares in the emirate.
Rebound: A rise in a market or stock after a series of declines, usually measured by the recovery from its lowest level.
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