UAE stocks generate strong cash flows Monday

Abu Dhabi [UAE]: UAE stocks generated strong cash flows Monday as the International Holding Company (IHC) maintained robust performance and closed at AED 400.6, following more than AED 217.2 million worth of transactions.

Multiply Group gained AED 160.7 million in liquidity, closing high at AED 3.670. Emirates Insurance Company (EIC) was the best performer and closed high at AED 6.930.

However, Abu Dhabi’s Index FADGI closed 0.248 per cent down at 9,776.340 pts affected by the low performance of the banking and financial service index which fell 0.152% down as well as the real estate index which closed at 7,948.610 pts, 0.058 per cent down from the last trading session on Friday. The industrial index yet closed in the green at 5,637.080 pts, 0.101 per cent up.

In Dubai, the general index closed high at 4,053.640 pts, driven by the favourable performance of the real estate and industrial sectors. The Union Properties Company was the best performer and closed 6.960 per cent higher at AED 0.415, followed by the Emirates Reem Investments which closed high at AED 4.280. Top lender Emirates NBD closed higher by 1.180 per cent at AED 17.100.