UAE stock markets continue to rise, driven by blue-chip communication and property stocks

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On Monday, UAE stock markets capitalized on improved investor sentiment, with communication and property blue-chip stocks leading the way. In Abu Dhabi, the FADGI index closed up 0.752% at 9,501.150 points, driven by strong trading over telecom firms, including SUDATEL, up 11.810%, QTEL, up 10.890%, and Etisalat, up 3.350%. Abu Dhabi Islamic Bank also performed well, closing up 5.010% at AED10.480, while property giant Aldar closed 2.8% higher at AED4.780.

In Dubai, the Dubai Financial Market saw its best performance in a month, led by property blue-chip Emaar, which closed up 3.21% at AED5.780. Emaar Development followed suit, ending the session up 1.090% at AED5.570. The emirate’s main lender, EmiratesNBD, also contributed to the positive performance, closing up 1.52% at AED13.35.