Abu Dhabi Among Region's Deepest Losses... Abu Dhabi Islamic Bank Drops 4.96%
The Abu Dhabi General Index fell 1.60% to 9,589.95 points on trading of AED 1.4 billion, with Abu Dhabi Islamic Bank dropping 4.96%, while Aldar Properties rose 3.27%.
The Abu Dhabi General Index fell 1.60% to close at 9,589.95 points, with trading reaching AED 1.4 billion, placing the UAE market among the region's deepest losses.
In Dubai, the General Index declined 0.33% to 5,845.01 points. Shares of Abu Dhabi Islamic Bank fell 4.96% to AED 21.84, while Aldar Properties shares rose 3.27% to AED 7.90.
Emaar Properties shares recorded a slight decline of 0.34% to AED 11.48. Abu Dhabi's losses came during a session that witnessed a regional downturn, as the Egyptian Stock Exchange index dropped 1.64%, while the Saudi market closed higher.
A report by "The Edge" stated that the risks of an attack on the Ras Tanura refinery transmitted to oil and neighboring markets, rather than to the Saudi market named in the claim.
What Do These Terms Mean?
General Index: A measure of the overall market stock movement, calculated from the prices and weights of listed companies.
Stock: An ownership stake in a company, traded on the stock exchange at a price that changes based on supply and demand.
Trading Value: The total amount traded in the market during the session, calculated by multiplying the number of shares by their prices.
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