UAE equities recovered on Monday after falling sharply on Sunday, as investors took advantage of lower valuations to rebuild positions.
Dubai's headline index bounced back up 0.9 per cent at 3,380.24, having shed 3 per cent in intraday trading.
Arabtec Holding was the main gainer, as investors took advantage of the stock's lowest price in more than three years on Sunday to pile back into the shares. Trading in the company's stock accounted for more than a third of all activity on the bourse, ending up 5.9 per cent at Dh1.42.
Damac Properties and Amlak Finance were the other main gainers, closing up 4.8 and 3.1 per cent respectively.
Amanat Holdings fell 0.9 per cent to 76.7 fils, after the firm announced income of Dh7 million for the nine months to the end of September.
Shares in the capital meanwhile followed a similar trajectory. The Abu Dhabi Securities Exchange General Index closed up 0.75 per cent at 4,225.47, after having shed 1.6 per cent on Sunday. Dana Gas and Aldar Properties were the main gainers, rising 4.6 and 2.1 per cent respectively.
Shares in Saudi Arabia also made ground on Monday, closing up 1.3 per cent.
jeverington@thenational.ae
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