Dubai stocks boosted by Emaar

UAE stocks moved in opposite directions yesterday although in a very tight range, with Dubai's benchmark index advancing by 0.16 per cent to 4,152.97 and Abu Dhabi's general index falling by 0.36 per cent to 2,948.48.
In Dubai, Emaar Properties and Emirates Bank International gained 0.38 and 1.08 per cent to close at Dh13.05 and Dh14.00 respectively, lifting the real estate and banking sectors to offset the decline of the investment and telecommunication sectors.
Emirates Integrated Telecommunications Company (du) retreated below the Dh6 mark by losing 0.67 per cent to close at Dh5.94, while Union Properties took a similar stride in the opposite direction advancing by 0.65 per cent to Dh3.10.
The value of traded shares remained relatively low in Dubai, with many investors prefering await Emaar's dividends and maintain their positions.
In Abu Dhabi, limited numbers of transactions on the listed banks was the feature of the day, with the National Bank of Abu Dhabi losing Dh600 million in market capitalisation on account of two transactions for 1,250 shares. The shares fell 2 per cent to Dh24.40.
Similarly, United Arab Bank gained 4.9 per cent to close at Dh7.5 on account of a single transaction for 10,000 shares, according to the daily report of Amanah Capital.
The energy sector ended the session in the red due to Aabar's losses of 2.28 per cent to close at Dh1.71, while the real estate sector benefited from Aldar's advance by 2.27 per cent to Dh4.06, to end the session in the black.