UAE stocks end the week down

UAE stocks rose for the second straight day on Thursday but for the week, both the indices ended in the red.

Dubai?s benchmark stock index closed 2.53 lower for the week. Last week too the emirate?s gauge was down 0.81 per cent.

On Thursday, the DFM General Index rose 0.39 per cent to 2824.88.

The capital?s index rose 0.25 per cent to 3794.61. For the week, it retreated 1.50 per cent.

Of the 33 stocks traded in Dubai, 18 increased, 13 declined and two remained unchanged. Arabtec, the most active stock in terms of value traded, which stood at Dh126.27 million, gained 0.77 per cent to Dh2.61. Other real estate and construction stocks closed higher. Emaar Properties gained 1.18 per cent to Dh6.01 and Drake and Scull International jumped 2.33 per cent to Dh1.32.

In Abu Dhabi, Aldar Properties remained flat at Dh2.51. First Gulf Bank rose 1.23 per cent to Dh16.40 and Etisalat fell 0.43 per cent to Dh11.50.

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