Foreign buying boosted trading on Abu Dhabi and Dubai shares at the open.
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Last Updated: May 17, 2011
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On the Abu Dhabi Securities Exchange, Aldar Properties, the biggest developer in the emirate, added 0.7 per cent to Dh1.43. Sorouh Real Estate, the emirate's second biggest, rose 2.2 per cent to Dh1.36. Dana Gas, a gas explorer and producer, added 1.5 per cent to 67 fils a share. The Abu Dhabi Securities Exchange General Index was up 0.1 per cent to 2644.37.
"The recent activity has been mostly been driven by retail investors closing positions with foreigners being net buyers at these levels," said Anastasios Dalgiannakis, a trader at Mubasher Financial Services in Dubai.
On the Dubai Financial Market, Emaar, the region's biggest developer, rose 1.6 per cent to Dh3.15. Aramex, the Middle East's biggest courier company, added 1.1 per cent to Dh1.83. Dubai Financial Market, the only publicly listed bourse in the region, advanced 3.2 per cent to Dh1.26.
Elsewhere in the region, Kuwait's measure was unchanged at 6466.70. Bahrain's index was also unchanged at 1377.41. Oman's measure added 0.2 per cent to 6148.18. Qatar's benchmark was unchanged at 8683.50. The Saudi Tadawul All-Share Index was down 0.8 per cent to 6634.03.
