UAE stocks face downturn amid cautious outlook
The UAE markets declined on Wednesday due to the prevailing cautious sentiment among investors, with the Dubai Market Index dropping by 0.46% to close at 5,785.31 points, and the Abu Dhabi Market Index decreasing by 0.13% to close at 9,771.47 points. The performance of leading stocks was mixed, as shares of Emirates NBD, DEWA, and Alecs Capital declined, while shares of Emaar Properties, Union Energy, and Emaar Development rose in Dubai. In Abu Dhabi, some stocks experienced gains, such as Aldar Properties, Alpha Dhabi, and ADNOC Distribution, while stocks like Phoenix Group, Emirates Nabil Bank, and Agility Global declined. The total trading value amounted to 1.28 billion AED, with approximately 388 million shares traded across both markets in 30,000 transactions.
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