Abu Dhabi's shares attracted renewed interest yesterday as investors started building up positions in the capital's three major sectors after weeks of low turnover.
"There is a broad market recovery," said Nabil Farhat, a partner at Al Fajer Securities, a brokerage based in Abu Dhabi. "We needed this. We have been waiting for a while."
The bank, energy and telecoms sectors led the gains on the Abu Dhabi Securities Exchange General Index.
National Bank of Abu Dhabi jumped 3.6 per cent to Dh9.85. Etisalat advanced 2.3 per cent to Dh10.10. Taqa added 1.5 per cent to Dh1.31.
Eshraq Properties surged 9.6 per cent to 34 fils after it reported a third-quarter profit of Dh244.3 million, compared with a profit of Dh7.9m in the same period last year.
"I was amazed, they are doing really good," said Wadah Al Taha, the chief investment officer at Al Zarooni Group, an investment company in Dubai.
"The majority of the revenue for the year was actually locked in this quarter."
Eshraq sales topped Dh454.5m in the third quarter on land sales, and Dh491.8m for the nine-month period.
In September, Eshraq bought Nuran Marina Hotel Apartments from Emaar Properties for US$34m.
The Abu Dhabi Securities Exchange gained 1.3 per cent to 2,705.93 points.
The Dubai Financial Market General Index added 0.7 per cent to 1,626.22.
