7 Hrs
Source:
الخليج
Stocks fall for second week
The UAE stock markets experienced a decline for the second consecutive week, driven by rising geopolitical tensions and increasing oil prices, with investors pressuring leading stocks to reduce risks. The Dubai Market Index dropped by 1.4% to reach 5,818.47 points, while the Abu Dhabi Market Index decreased by 1.78% to approach 9,795.67 points, with around 8 billion dirhams traded during the week across 178,678 transactions. The decline mainly affected the banking, energy, and industrial sectors, amid a lack of strong catalysts, as market sentiment remained reliant on third-quarter results, geopolitical developments, and oil price movements.
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