The Abu Dhabi Securities Exchange crept higher this morning, led by banks and telecommunications, as investors bought up shares on the first trading day since the start of Ramadan.
First Gulf Bank, the lender controlled by Abu Dhabi's ruling family, advanced 1.4 per cent to Dh8.65. Abu Dhabi Islamic Bank, the country's second biggest Shariah-compliant bank, rose 0.6 per cent to Dh3.11.
Telecommunications operator Etisalat, which holds the largest weighting on the emirate's index, gained 0.4 per cent to Dh9.11. The Abu Dhabi Securities Exchange General Index gained 0.1 per cent to 2470.33 points.
Investors typically position their portfolios ahead of second quarter results and a so-called "Ramadan rally", which traditionally occurs towards the end of the holy month every year.
On the Dubai Financial Market exchange, Emaar Properties gained 0.6 per cent to Dh3.28. Arabtec Holding, the emirate's largest contractor, added 0.3 per cent to Dh3.00.
The Dubai Financial Market General Index slipped 0.1 per cent to 1532.96 points.
Elsewhere in the region, Kuwait's measure lost 0.4 per cent to 5813.62 points. Bahrain's index added 0.1 per cent to 5439.01 points. Qatar's QE Index was little changed, down 0,05 per cent, to 8277.39 points.
